ULIP premiums qualify for 80C benefit

Last year I started with HDFC Life Click2Invest for 10 years and am paying a premium of ₹4000 per month. Is my premium covered for tax exemption under 80C ? If yes then how do I claim the tax rebate?
- Puneet

HDFC Click 2 Invest is a ULIP and yes ULIPs carry tax benefits that qualify for deduction of up to ₹1.5 lakh under Section 80C. However, the aggregate amount claimed under section 80C, 80CCC & 80CCD(1) cannot exceed ₹1.5 lakh.

You can file your Income Tax Return to claim for the refund for the same.

This article was originally published on July 21, 2016.