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80ccc

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 May 2013 My father is contributing towards LIC annual annuity plan (New Jeevan Suraksha Plan-I) which is in my name. Could my father is entitled for rebate u/s 80CCC of the IT Act for this payment from his income?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 May 2013 1) father is not enttiled to the deduction since amount paid is not credited in father's a/c by the insurer.

2) son will not get deduction since money is not paid out of son's income.
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sumit arora

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sumit arora (Expert)
07 May 2013 Yes Your father is entitled for deduction
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Anand

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Anand (Expert)
07 May 2013 I am of the view that the father will get the deduction u/s 80CCC since the amount is paid out of his income.
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 May 2013 There are two different views to the query. Could I seek some more expert views to solve the query please?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 May 2013 I am sure that the observations of Mr. Arora and Mr.Anand needs absolute reconsideration.
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