LIC paid to grandchildren
This query is : Resolved
18 November 2020
A Senior citizen pays lic premium of B & C grand childrens as B & C has lost their father. A has a daughter in law who is a income tax assessee. Can we claim deduction for Mr A when he pay LIC Premium of B & C treating the income of his daughter in law is not sufficient to bring up the childrens. or one child premium can be claimed by grand father and one child premium for her daughter in law if she pays
suggest how we can claim benefit under incometax for grand father and daughter in law
suggest how we can claim benefit under incometax for grand father and daughter in law
18 November 2020
LIC premium paid for grand children is not eligible for deduction. Ask daughter in law to pay the premium and claim deduction.
25 November 2020
If property is purchased below market value amd registered what is the impact of tax. And also property purchased below market value but stamp duty is paid for market value what is tax implications plz guide
26 November 2020
The difference amount will treated as gift and taxed in case of purchase from other than relative.
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