LIC Premium

This query is : Resolved

Vasantha (Querist)
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26 September 2008 Hi All,

Can anybody suggest me for the below details :
I am single Female individual have been paying premium of my mother every year. Do I eligible for the premium amount paid for tax exemption from taxable income.

Thanks & Regards,
Vasantha.

Vivek Goel

Vivek Goel (Expert)
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26 September 2008 no u can not take such benefit, as per section 80C lic premium paid only for self, spouse & children is allowed as deduction.
however if u are paying her medical insurance premium & she is dependend on u, then u can take deduction u/s 80D

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 September 2008 Appreciation for the correct answer.

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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27 September 2008 No appreciations are required dear, as it is expected that one should answer correct and to the point in this (EXPERTS) Section.

{Getting points by such reply's is not good in expert section}