LIC claim of father's Policy
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 January 2010
Can i claim for my father's LIC policy for my Tax calculation as my father is dependant on me?
Please advice me on the same
Please advice me on the same
Satpal Singh
(Expert)
27 January 2010
No you can not claim deduction for LIC Policy of your father because as per section 80C you can claim the deduction for LIC policy of
An Individual him self.
his/ Her spouse and
any child of such individual
An Individual him self.
his/ Her spouse and
any child of such individual
CA Prashant Gupta
(Expert)
27 January 2010
as individual you can't claim because policy should be in name of spouse, himself/herself or children.
but in case of HUF policy can be in any member's name. So if you have an HUF then HUF can clim this.
but in case of HUF policy can be in any member's name. So if you have an HUF then HUF can clim this.
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