Easy Office
LCI Learning

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?

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




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query