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(Querist)
11 April 2013 If grandfather purchased an LIC Policy in the name of his minor grandson, then what is the tax incidence for both ( grandfather and grandson) when LIC Premium is paid by grandfather by the mode of Cheque
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CA Krunal

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CA Krunal (Expert)
11 April 2013 No deduction is allowed for such case. Only father can pay LIC for children and not grand parent

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