DEAR DHAWAL
THE QUESTION IS THAT WHO HAS DEPOSITED AMOUNT IN MINOR'S BANK ACCOUNT. E.G IF AMOUNT TRANSFERRED FROM FATHER'S ACCOUNT TO SON'S (MINOR'S) ACCOUNT TO MAKE LIP PAYMENT, AND LATER ON PAYMENT MADE TO LIC THROUGH MINOR'S ACCOUNT EITHER THROUGH ECS OR BY CHEQUE, IT WILL BE ALLOWED AS DEDUCTION TO FATHER BECAUSE, U/S 80C, MODE OF PAYMENT IS NOT IMPORTANT, THING IS THAT LIC PREMIUM PAID THROUGH MINOR'S ACCOUNT WOULD NOT PRECLUDE FATHER FROM CLAIMING DEDUCTION. THE PAYMENT THROUGH MINOR'S ACCOUNT IS ONLY A MODE OF PAYMENT OF LIC PREMIUM.
FROM ALL THE ABOVE, DED U/S 80C WOULD BE ALLOWED TO PARENT WHO DEPOSITED MONEY IN BANK ACCOUNT OF MINOR....
REGARDS,
MANOJ