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For 80c deduction against lic premium

25 July 2016

Dear Sir, My client has two children. One is married daughter and one is son who is a employed in a pvt co. My client take the insurance in the name of daughter before marriage. Now premium paid by his husband. My question is that - 1). Can my client avail deduction at the time of filling for married daughter and employed son both? 2). If he take this insurance in the name of married daughter after her marriage and premium paid by his father. Then can he avail deduction u/s80c Pls clarify me.

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7 Replies

prasun (accountant) (109 Points)
Replied 25 July 2016

In the case of an individual, policy taken on his own life, life of spouse ,any child(dependent/independent, minor/ major, married / unmarried, male/female) eligible for deduction under 80c.

1 Like

Udgam Koomar (Tax Technologist) (1949 Points)
Replied 26 July 2016

Its eligible

Ankit Kumar Panigrahi (11 Points)
Replied 26 July 2016

your query is not correct u r using. his instead of her , father instead of husband, correct the query first

2 Like

Almas Dastagir (CA Student) (31 Points)
Replied 26 July 2016

If premium is paid by her husband, and if her husband is filing returns and claiming ded.u/s 80 C, how can the father claim the same? The father cannot claim.

1 Like

Ashish P Mehta (Article Assistant) (48 Points)
Replied 27 July 2016

If husband is paying lic premium now, then father can not claim the same but if father is still paying the premium for his daughter even after her marriage then father can claim it.

1 Like