Exemption u/s 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2012
Dear Sir,
I am a student and my mother is a homemaker.My father and my elder brother are earning.My question is,if my brother pays LIC premium for all family member,will he be able to claim exemption, on LIC premium paid, under section 80C.
Thanks
I am a student and my mother is a homemaker.My father and my elder brother are earning.My question is,if my brother pays LIC premium for all family member,will he be able to claim exemption, on LIC premium paid, under section 80C.
Thanks
05 September 2012
no.
child can not claim the 80c on the LIP paid on the life of the parents.
child can not claim the 80c on the LIP paid on the life of the parents.
05 September 2012
Ajay Agarwal is correct. Deduction for life insurance premium is available only on premium paid for self, spouse or child
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
