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Deduction for Parnets Life Insurance Policy

This query is : Resolved 
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(Querist)
04 February 2011 Hi,

I want to know whether can i claim deduction if premium of life insurance for parents paid by me.

Can i claim deduction u/s 80C from my income?
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B. Gopalkrishna Baliga

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B. Gopalkrishna Baliga (Expert)
04 February 2011 No, premium paid on parents' life insurance policy is not deductible u/S 80C. Policy can be taken in the name of self, spouse, child (child may be married/ unmarried, dependent/independent)
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 February 2011 Concurring with the observation of Balga Ji,deduction is not permitted as a corollary to section 80C(4)(a)(i) of the Income tax Act,1961.
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