Lic policy premium of earning family member u/s 80c
This query is : Resolved
TRIBHUVAN PUROHIT
(Querist)
03 March 2014
Dear Sir,
One of our staff is providing proof of LIC Premium paid of his son not dependant on him,
He told me that in joint family he pays the premiums of his two sons, his wife & grand daughters.
Whether it is acceptable or not as investment proof
Please suggest
Thanks in advance
Tribhuvan Purohit
One of our staff is providing proof of LIC Premium paid of his son not dependant on him,
He told me that in joint family he pays the premiums of his two sons, his wife & grand daughters.
Whether it is acceptable or not as investment proof
Please suggest
Thanks in advance
Tribhuvan Purohit
03 March 2014
Section 80C DOES NOT prescribe any condition that the premium must be paid only for a dependent son.
Sub-section 4 prescribes the persons for whom premium paid can be availed as deduction.
The persons are - the individual, the wife or husband and any child of such individual
Sub-section 4 prescribes the persons for whom premium paid can be availed as deduction.
The persons are - the individual, the wife or husband and any child of such individual
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