Deduction u/s 80c

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This query is : Resolved

Dipankar Chakraborty (Querist)

09 April 2016 Sir, my client has three LIC policy. 1st for his own, 2 nd is for his wife, and 3 rd is for his married daughter. The policy taken by him for daughter before marriage. After marriage of his daughter can he claim deduction u/s 80c?
Is there any will arise from IT dept i.e his daughter is married and suppose premium is paid by his husband then?

Premium paid by cash not cheque.

Gaurav Verma

Gaurav Verma (Expert)

09 April 2016 he cant claim premium of daughter's policy

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

10 April 2016 Premium of LIC policy can be paid in cash for getting benefit U/s 80C.
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U/s 80C, an assessee can claim deduction in respect of premium paid for the policy on life of his/her child. There is no specification like married or unmarried daughter. A daughter is always a child of her parents irrespective of her marital status. Pl. refer Section 80C(4).
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Daughter's husband can claim deduction if he pays the premium.
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In respect of the any premium amount, only one person can claim the deduction.

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