Deduction u|s 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2014
can a father claim a deduction on a lic premium of Rs10000 paid for his son from his(father) bank a/c, if his son is 30 yrs of age
Guest
Guest
(Expert)
07 January 2014
The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee—
(i) to effect or to keep in force an insurance on the life of persons specified in sub-section (4);
(4)The persons referred to in sub-section (2) shall be the following, namely:—
(a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section,—
(i) in the case of an individual, the individual, the wife or husband and any child of such individual, and
(ii) in the case of a Hindu undivided family, any member thereof;
So according to this a father can claim deduction.
(i) to effect or to keep in force an insurance on the life of persons specified in sub-section (4);
(4)The persons referred to in sub-section (2) shall be the following, namely:—
(a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section,—
(i) in the case of an individual, the individual, the wife or husband and any child of such individual, and
(ii) in the case of a Hindu undivided family, any member thereof;
So according to this a father can claim deduction.
Message likes :
1 times
07 January 2014
in this case the ans is yes father can claim.
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