Lic policy premium of earning family member u/s 80c

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TRIBHUVAN PUROHIT (Querist)
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03 March 2014 Dear Sir,

One of our staff is providing proof of LIC Premium paid of his son not dependant on him,

He told me that in joint family he pays the premiums of his two sons, his wife & grand daughters.

Whether it is acceptable or not as investment proof

Please suggest

Thanks in advance

Tribhuvan Purohit

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 March 2014 Section 80C DOES NOT prescribe any condition that the premium must be paid only for a dependent son.

Sub-section 4 prescribes the persons for whom premium paid can be availed as deduction.

The persons are - the individual, the wife or husband and any child of such individual

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