EXEMPTION UNDER SEC 80C
This query is : Resolved
satyanarayana
(Querist)
16 November 2009
Hi,
An employee is married and he wants to produce his father and mother insurance bills for getting benefit u/s 80C.
So, can he produce his father and mother insurance policies details for getting income tax benefit. Is he eligible to get benefit u/s 80C.
Please reply.
Thank you,
Satya.
e-mail: kakha_mittu@yahoo.co.in
An employee is married and he wants to produce his father and mother insurance bills for getting benefit u/s 80C.
So, can he produce his father and mother insurance policies details for getting income tax benefit. Is he eligible to get benefit u/s 80C.
Please reply.
Thank you,
Satya.
e-mail: kakha_mittu@yahoo.co.in
16 November 2009
Deduction u/s 80C is not permitted for the referred premium payments.
Taranjit Singh
(Expert)
19 November 2009
Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction.
Please note that life insurance premium paid by you for your parents (father / mother / both) or your in-laws is not eligible for deduction under section 80C.
Please note that life insurance premium paid by you for your parents (father / mother / both) or your in-laws is not eligible for deduction under section 80C.
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