P.Venu (Pensioner/Advocate) (24 Points)
04 February 2016
Sivaramakumar
(GM-ACCOUNTS)
(142 Points)
Replied 09 February 2016
Yes, you are eligible to claim the deduction since the policy is in the name of your own daughter and the benefeciary or nominee is your grandchild .The premium paid is only on the life of your daughter and not on your grandchild.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)