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Who will claim deduction under 80c ?

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(Querist)
06 June 2013
Mr. X Paid the Premium of Rs.25000/- for the Policy of his Son Mr.Y

Who can Claim Deduction ?

Does Answer Changes if Mr.Y is Dependable ?

Will there be any kind of Adjustment in the Balancesheet to the above case Beside 80c ?
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CMA Gul S

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CMA Gul S (Expert)
06 June 2013 Hi Amit,

you can claim the deduction if you have a minor dependable son.

It will affect your capital account in the Balance sheet

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