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Deduction in Sec 80C

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(Querist)
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.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
31 March 2010 NO.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 March 2010 No. Because premium paid on the life of self/spouse/child only are covered for deduction under section 80C.



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CA. Kishore Choudhary

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CA. Kishore Choudhary (Expert)
31 March 2010 No...but you can take health policy for you parents.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
31 March 2010 no
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
01 April 2010 agree with expert
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
01 April 2010 no

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