The amount deductable is the total amount you paid to the insurance company for that year.
Exactly what he said, if you buy in June and paid for a whole year, then the full amount is deductable subjected to the limit.
Contributions to the Employees Provident Fund and insurance or takaful premiums for life policies are allowed a maximum total tax relief of RM 6,000.
A further tax relief of RM 3,000 is given for insurance or takaful premiums with respect to medical and educational purposes.
Relief income tax from insurance, wanna confirm some details
Mar 16 2007, 01:10 AM
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