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ROOPA G | I am a house wife. My husband is paying Insurance to ICICI prudential from his income Does he get any relief? |
Exemption under which chapter please mention
criteria for exemtion
amount of exemption i the insurance is Rs.881 quarterly |
 |
 
AJ
|
Hello Roopa,
He would get exemption under 80C of the income tax act.
But it is high time you people wake up and increase the insurance coverage. With a 881 quaterly what is the amount of cover he will have.
Speak to a Financial Planner and he may be able to give more inputs on the same. |
|
toknowmore
 |
Yes the insurance premium paid to any insurance company approved by IRDA in India is eligible u/s80c upto Rs.1,00,000 for the financial year 2006-07
good luck
pnkmurthy@yahoo.com |
|
chindu
 |
Hi roopa, your husband has taeken good decision by taking ICICI PRUDENTIAL POLICY. This company has given excellent return to the claints. Basically you can use the insurance instrument for protection planning, investment planning and emergency planning. Any how you will get tax relief under section 80 c and 80ccc (pension plans), 80 d (Health plans) and all payouts through the insurance are tax free under section 10 (10 d). |
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Deva
|
your husband is eligible for tax exemption (rs881X4)under sec80(c) / sec10(10)D of income tax.
if he is a salaried person,ask him inform about insurance details to his employeralong with a copy of premium payment, before feb / mar to get deduction. |
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ms
 |
yes any personcan avail exampation on wife's policy even she have income or even she is tax payer |
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delta
 |
yes, he will get it releif for this amount |
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sathya_rulez
 |
Yes he is even I am. |
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