23 February 2011
No. Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction. Please note that life insurance premium paid by you for your parents (father / mother / both) or your in-laws is not eligible for deduction under section 80C.
23 February 2011
Agreed... Premium paid for mother or father is allowed, only in the case of mediclaim. (section 80D / 80DD /80DDB ) not under section 80C.
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