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Deduction under sec 80c

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(Querist)
13 February 2013 Sir/Madam,

Whether an assessee can claim deduction of LIC premium paid for his/her parents under Sec 80C?
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
13 February 2013 Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction

No deduction is allowed for premium paid towards Parent's Policy
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
13 February 2013 No, parents are not included in 80C.
so he can't calim premium paid on parents policy
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