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DEDUCTION OF LIC U/S 80C

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 July 2011 can anybody tell me that is an individual eligible for deduction of lic on his working son who is unmarried and file his own income tax return.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 July 2011 yes. Father eligible to claim the LIC premium of son`s policy under section 80C
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
09 July 2011 Allowable u/s 80C only if father is paying the son's premium.
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