Deduction u/s 80c for premium paid on married daughter

This query is : Resolved

Deepak (Querist)
Follow

15 March 2018 Good afternoon all,

Suppose Mrs. A (married ) daughter of Mr.X having LIC premium receipt paid on her life which was paid through cash.
My question is Can Mr. X claim this LIC premium amount under section 80C in his return of Income? As section 80C says we can claim deduction if premium paid on life of married daughter also. Is there any compulsion payment should go from bank account of Mr.X?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

16 March 2018 Yes, he can claim deduction on life insurance premium paid on behalf of his married daughter

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

16 March 2018 There's no compulsion that the fund should be paid from Mr X's bank account. Funds should be contributed by Mr X though

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ishwar Radhakisan Tawani

Lalan Kumar Jha

Kalyan Guha

Rajat Khandelwal

Sanoj T

Subscribe Now

Deduction u/s 80c for premium paid on married daughter

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

CA Final

Article Assistant

Manager- Finance and Compliance

GST CONSULTANT

Accountant