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I am staying with my parents. We are covered with a floater policy for myself, my wife, my son, my father and my mother. I have a query that if part payment is done by me and part payment by my father (in Cash), can both claim deduction to the extent of their contribution?
If you have paid premium than how would you justify that you have paid this much and your father has paid this much, you have only one premium receipt from the insurance company.Quote:
Originally Posted by Mukulz
The premium may be paid by any mode of payment other than cash. Note prior to 1st April 2009, premium payment was required to be done only by cheque. Credit card or other online payment mechanism where not allowed. Now all payment modes except cash payment are accepted.