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Can father avail deduction of lic made by son on himself?

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This query is : Resolved

Neha Agarwal (Querist)

18 March 2016 I file return of an employee where he actually made investment u/s 80C is Rs 1,10,000/- during FY 14-15. He claimed deduction u/s 80c in his return of Rs 50000/- becoz after claiming deduction of Rs 50000/- his whole income is exempted & below taxable limit. I also have to file return of his father(not senior citizen) I want to know that Can father avail the deduction of Rs 60000/- in his ITR actually made by his son.

K.Govindarajan

K.Govindarajan (Expert)

18 March 2016 More details are required . On Plain reading of sec 80 No , Deduction is allowed only for the tax payer and the deduction is allowed irrespective of whether such amount is paid or deposited out of his income chargeable to tax . Father can claim deduction provided the investment for Rs, 60000 can be identified separately

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