Tax deduction on Life insurance premiums
Thursday, November 30, 2017, 12:34 PM
Life insurance premium of self, spouse and any child’s insurance are also tax deductible under section 80C. In addition, the amount received on maturity of the policy is also not taxable. Investments in the Unit-linked insurance plans, which provide life insurance and invest in equity, in the name of self, spouse and a child, are entitled to tax deduction under Section 80C.