Deduction u/s 80c for premium paid on married daughter
This query is : Resolved
15 March 2018
Good afternoon all,
Suppose Mrs. A (married ) daughter of Mr.X having LIC premium receipt paid on her life which was paid through cash.
My question is Can Mr. X claim this LIC premium amount under section 80C in his return of Income? As section 80C says we can claim deduction if premium paid on life of married daughter also. Is there any compulsion payment should go from bank account of Mr.X?
Suppose Mrs. A (married ) daughter of Mr.X having LIC premium receipt paid on her life which was paid through cash.
My question is Can Mr. X claim this LIC premium amount under section 80C in his return of Income? As section 80C says we can claim deduction if premium paid on life of married daughter also. Is there any compulsion payment should go from bank account of Mr.X?
16 March 2018
Yes, he can claim deduction on life insurance premium paid on behalf of his married daughter
16 March 2018
There's no compulsion that the fund should be paid from Mr X's bank account. Funds should be contributed by Mr X though
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