For claiming 80 c deduction
This query is : Resolved
03 August 2011
i want to know if a grandfather invest LIC on the name of his grand son can he get tax benefit form it
03 August 2011
For claiming the deduction u/s 80C, the payment must be made by the assessee himself. In your case, the NRI is making payment. So, how can his grandson get the deduction.
03 August 2011
The deduction is available only for spouse and children in case of an idividual. If the grandfather takes the policy and the payment is through HUF and the HUF is not yet parted, then he can take the deduction under HUF, if he has any income there.
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