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I am Ronit, indian holding indian passport.
My family, my wife and kids are foreign nationals and holding foreign passport. I have purchased insurance from AIA and I am paying insurance premium for my family.
Now I am moving to india with family, and i want to continue AIA plans. Can I show the premium paid and education fees as deduction for tax exemption?
Regards, Ronit
To claim tax benefit in India, the policy should be approved by Govt Agencies and the Company itself be approved.
I don't think foreign insurance companies would qualify for this.
More details here
http://law.incometaxindia.gov.in/dittaxmann/incometaxacts/2008itact/section80d.htm
