03 August 2011
For claiming the deduction u/s 80C, the payment must be made by the assessee himself. In your case, the NRI is making payment. So, how can his grandson get the deduction.
03 August 2011
The deduction is available only for spouse and children in case of an idividual. If the grandfather takes the policy and the payment is through HUF and the HUF is not yet parted, then he can take the deduction under HUF, if he has any income there.
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