Lic
This query is : Resolved
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?
18 January 2010
Can be claimed Sec.80C Specifically mentioned Married Daughter also
18 January 2010
yes ,you can claim deduction u/s 80C for premium of lic in the behalf of married daughter.
19 January 2010
No,it is not necessary to be form part of family.
20 January 2010
then how can be lic paid by father are included as a deduction for the income of the father.
20 January 2010
plz explain it according to the income tax act with the section.
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.
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.
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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