Need A Financial Product › Forums › Tax Savings › Can I claim tax benefit for my wife’s insurance premium

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  • August 6, 2014 at 9:29 pm #46715
    samkapoor77
    Keymaster

    I pay Rs. 10,000 annual premium for my wife’s LIC. Can I claim the premium payment for her as my savings for income tax purpose? Please guide me

    August 9, 2014 at 8:02 pm #46716
    samkapoor77
    Keymaster

    If a husband pays premium for wife’s life insurance then he can definitely claim it under section 80 C. Similarly, if a wife pays premium for husband’s life insurance, then she can claim it as her savings for income tax purpose.

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