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Insurance premium

30 March 2016

if a father takes lic policy for his and claims deduction of premium paid u/s 80c, can son also eligible to claim deduction of lic premium paid by him for policy taken by himself?

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3 Replies

ANAND (CA) (133 Points)
Replied 30 March 2016

Do u mean son pays for the father and the father claims that also u/s 80c?

Please reframe the question proerly, kinda confusing

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Priyanka Tosawar (Ca) (38 Points)
Replied 31 March 2016

IF father has taken a lic policy for life of Ms.X(her daughter)and claiming deduction u/s 80c..now if Ms.x takes another lic for life of herself,paying premium and claiming deduction of 80c.can she do so?))