LIC premium

Ritik Chopra (student) (8128 Points)

02 April 2021

Can an assessee deposit LIC premium of a non dependent child?

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6 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 02 April 2021

May deposit but it will not be eligible for deduction u/s 80C as child is not dependent

SUSHANT BIDAYE (597 Points)
Replied 02 April 2021

Child need not be dependant for claiming deduction u/s 80 C for LIC premium.

in my opinion, you can claim it

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Kapadia Pravin (17259 Points)
Replied 03 April 2021

Deduction available

CA Puja Sharma (Chartered Accountant) (4995 Points)
Replied 03 April 2021

In our opinion, deduction is available even if he is independent

Sivaramaraju G (Learner) (2398 Points)
Replied 04 April 2021

Irrespective of dependent or not parent can claim of LIC Premium paid.

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 04 April 2021

You can claim deduction u/s 80C irrespective of the fact that child is dependent or not.

@ sourav Please guide properly and after thoroughly knowledge of Section.

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