Can an assessee deposit LIC premium of a non dependent child?
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
in my opinion, you can claim it
CA Puja Sharma
(Chartered Accountant)
(5010 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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