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80c benefits

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07 August 2014 Dear Experts , A person is a senior citizen & getting a pension income . So he wants to save tax to investing in 80c. So can he get benefits of 80c to pay insurance premium of his 3 childs whose age is above 18 years?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 August 2014 Yes he will get deduction u/s 80C for LIC premium paid for his children above 15 years of age. From FY 2014-15 limit of deduction u/s 80C is Rs 1.50 Lacs.
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