Income tax deduction

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2011 I want to know my father is no more, Do I get exemption of investment through me for my mother mediclaim and LIC by my bank a/c or anything else ?

23 February 2011 Payment of Premium by you for mother mediclaim policy can be claimed u/s 80D of the IT ACt but LIC premium for mother policy is not allowable u/s 80C of the IT ACT

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2011 why sir why LIC not ?


23 February 2011 Deduction for LIC premium is not allowed for parents... its only allowed for self / spouse/children

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2011 any declaration ?

23 February 2011 I agree with both experts opinion. Please refer clause 1 of Section 80(C).

05 March 2011 HI,
AGREED WITH THE EXPERTS

Regards
CA.LOHITH.J
B.com,ACA,CS,(ICWA),SAPM Hons,ITF Hons



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