POSTED BY April 5, 2014 10:21 pm ONE COMMENTON
I took the policy for sum assured 2.4 L and for a premium 24 K per year. I paid for one year and am in no way to continue this policy since I learnt my lesson to not to invest in these type of money back policies.
Can I just not pay the premium and am ok to have that 24 K loss ? What are the tax implications as employer already considered 24 K in my 80 C?