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Income tax deduction

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2011 I want to know my father is no more, Do I get exemption of investment through me for my mother mediclaim and LIC by my bank a/c or anything else ?
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
23 February 2011 Payment of Premium by you for mother mediclaim policy can be claimed u/s 80D of the IT ACt but LIC premium for mother policy is not allowable u/s 80C of the IT ACT
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2011 why sir why LIC not ?



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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
23 February 2011 Deduction for LIC premium is not allowed for parents... its only allowed for self / spouse/children
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 February 2011 any declaration ?
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S.A.BADAMIKAR

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S.A.BADAMIKAR (Expert)
23 February 2011 I agree with both experts opinion. Please refer clause 1 of Section 80(C).
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CA. Lohith Jagadeesh

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CA. Lohith Jagadeesh (Expert)
05 March 2011 HI,
AGREED WITH THE EXPERTS

Regards
CA.LOHITH.J
B.com,ACA,CS,(ICWA),SAPM Hons,ITF Hons

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