Income from other sources
This query is : Resolved
ABHISHEK JAIN
(Querist)
11 April 2013
If grandfather purchased an LIC Policy in the name of his minor grandson, then what is the tax incidence for both ( grandfather and grandson) when LIC Premium is paid by grandfather by the mode of Cheque
11 April 2013
No deduction is allowed for such case. Only father can pay LIC for children and not grand parent
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