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

Satpal Singh

Satpal Singh (Expert)
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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

CA Prashant Gupta

CA Prashant Gupta (Expert)
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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.

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