Results 1 to 3 of 3

Thread: Rebate on Late fee paid for Life Insurance Premium

  1. #1
    PolicyWala NewBie
    Join Date
    Mar 2009
    Posts
    21

    Question Rebate on Late fee paid for Life Insurance Premium

    Under sec 80C amount paid as life Insurance Premium is eligible for IT rebate. I have a query last year, I have reinstate some of my Life Insurance Policies. For these I have paid some penalty/ late fee.
    Whether the late fee paid above for keeping the policy in force can be claimed for Income Tax rebate.


  2. #2
    PolicyWala Stalwart Master's Avatar
    Join Date
    Feb 2009
    Location
    Mumbai
    Posts
    393

    Default

    You cannot take claim of any penalty/ late fee under section 80C.

  3. #3
    Moderator Expert's Avatar
    Join Date
    Feb 2009
    Location
    New Delhi
    Posts
    384

    Default

    Quote Originally Posted by pawan View Post
    Under sec 80C amount paid as life Insurance Premium is eligible for IT rebate. I have a query last year, I have reinstate some of my Life Insurance Policies. For these I have paid some penalty/ late fee.
    Whether the late fee paid above for keeping the policy in force can be claimed for Income Tax rebate.
    As already said the late fee, penalty or reinstatement fee etc. would not be part of sec 80 C claim.
    * SAFE
    Self Appointed Financial Expert


Similar Threads

  1. Life Insurance for NRI
    By Got_the_Best in forum Life Insurance
    Replies: 6
    Last Post: 08-02-2011, 12:29 AM
  2. Online receipt of lic premium, paid offline
    By nimit in forum Life Insurance
    Replies: 5
    Last Post: 22-08-2009, 10:05 AM
  3. Replies: 1
    Last Post: 29-03-2009, 08:10 AM
  4. Health Insurance - Tax Rebate
    By Mukesh Kumar in forum Tax Questions
    Replies: 5
    Last Post: 19-03-2009, 08:41 PM
  5. Tips to SAVE Life Insurance Premium -
    By PolicyWala in forum Life Insurance
    Replies: 0
    Last Post: 15-02-2009, 04:23 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •