Lic payment u/s 80c

Hii Sir,

In my view, in this case son can claim the LIC premium paid only if father not. 

SON CAN CLAIM DEDUCTION ONLY IF SON PAID THE PREMIUM , HERE SINCE FATHER PAID THE PREMIUM FATHER WILL GET THE DEDUCTION 

son can claim the amount. LIC premium is a personal expenditure, so the assessing officer cant disallow the amount.

only father is eligible to take benefit u/s 80C  for LIC premium  paid for his son

son can not take benefit for the same

Agreed with above. LIC premium is paid in the name of son. Cash or bank transactions between son and father is nowhere taxed under IT Act. Regards

Mam Shivangi this transaction is possible through gift but for that one need to prepare gift deed.

still in that case it looks like a adjustment and not safe.

hence i would not suggest to shown as loan or gift.

Dear All

          I think LIC paid by father. Both can claim u/s 80C.  Its is not any place written that LIC premium paid should be Personal a/c. Only u/s 80D  as mediclaim should be own a/c other than cash. so both can claim.  only one person can claim son or father its depended own.

Thanks

Ramanuj

Son cant claim as payment is made by father.