Lic

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manish (Querist)
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18 January 2010 If any father pay the premium of lic in the behalf of her married daughter. Can he claim the deduction u/s 80C?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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18 January 2010 Can be claimed Sec.80C Specifically mentioned Married Daughter also

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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18 January 2010 yes ,you can claim deduction u/s 80C for premium of lic in the behalf of married daughter.

manish

manish (Querist)
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19 January 2010 Married daughter may be form part of the family?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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19 January 2010 No,it is not necessary to be form part of family.

manish

manish (Querist)
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20 January 2010 then how can be lic paid by father are included as a deduction for the income of the father.

manish

manish (Querist)
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20 January 2010 plz explain it according to the income tax act with the section.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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20 January 2010 Dear Manish In sec.80C explains

In case of assessee is individul can claim the premium paid on policy taken on own life, life of the spouse or any child (child may be dependent/independent,minor/major, married/unmarried)

In case of Assessee is HUF -any member of the family

I think this explanation solve your question.

manish

manish (Querist)
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23 January 2010 Thanks CMA.Ramesh Krishnan Sir for giving me answer of my query with proper reason and with proper explanation.

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