Deduction in Sec 80C
This query is : Resolved
31 March 2010
Dear Sir,
If I have paid to LIC for my parents and policy is in the name of my parents. May I take benefit for this in sec 80C if Parents are depended.
If I have paid to LIC for my parents and policy is in the name of my parents. May I take benefit for this in sec 80C if Parents are depended.
31 March 2010
NO.
31 March 2010
No. Because premium paid on the life of self/spouse/child only are covered for deduction under section 80C.
31 March 2010
No...but you can take health policy for you parents.
CA Ravi Sisodia
(Expert)
31 March 2010
no
CA Ashok Kumar Sahu
(Expert)
01 April 2010
agree with expert
CMA Ramesh Krishnan
(Expert)
01 April 2010
no
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