Maharashtra State Government Employees' Group Insurance Scheme, 1982--Relief under section 80C of the Income-tax Act, 1961, to contribution made under this Scheme - Income Tax - 337/1982

Maharashtra State Government Employees' Group Insurance Scheme, 1982--Relief under section 80C of the Income-tax Act, 1961, to contribution made under this Scheme Circular No. 337 Dated 4/5/1982 To All Commissioners of Income-tax. Sir, Subject : Maharashtra State Government Employees' Group Insurance Scheme, 1982--Relief under section 80C of the Income-tax Act, 1961, to contribution made under this Scheme. Under the Maharashtra State Government Employees' Group Insurance Scheme, 1982, which is to be introduced w.e.f. 1st May, 1982, under the authority of the Government of Maharashtra, a compulsory insurance scheme would be started in which all existing and future officers of the State Government are required to contribute a certain amount monthly for a life cover. 2. A question has been raised whether the Government servant's monthly contributions under the scheme would be eligible for relief under section 80C(2)(a)(i) of the Income-tax Act, 1961. This question has been considered and it is clarified that the contributions to the Maharashtra State Government Employees Group Insurance Scheme will be eligible for relief under section 80C of the Income-tax Act, 1961, subject to the qualifying amounts prescribed in section 80C(4) of the Income-tax Act, 1961. Yours faithfully, (Sd.) V.B. Srinivasan, Secretary, Central Board of Direct Taxes.