Hi,
Presently, I'm paying the premium for my wife's LIC Policy and I'm not listed as a nominee.
Is it posiible for me to gain tax benefit by including the amount in my tax projections?
Chiranjib Sarma (Others) (4 Points)
31 August 2015Hi,
Presently, I'm paying the premium for my wife's LIC Policy and I'm not listed as a nominee.
Is it posiible for me to gain tax benefit by including the amount in my tax projections?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 31 August 2015
Deduction u/s 80C for LIP is allowed to an individual when the policy is taken in the name of individual himself, spouse or any child of such individual.
.
You don’t necessarily have to be a nominee. Hence, you can claim the deduction.
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