LIC premium for minor son
This query is : Resolved
SAMEER UPADHYAY
(Querist)
30 October 2009
Can deduction U/s 80C for payment of LIC premium for minor son be claimed by father in first year of payment and by mother in subsequent years
Thanks
Sameer Upadhyay
Thanks
Sameer Upadhyay
Kapil Arora
(Expert)
30 October 2009
Yes it can be there is no any specific restriction for such transaction
31 October 2009
The deduction can be claimed by either parent who has paid the premium.
O.D.SHARMA
(Expert)
31 October 2009
The premium have to go from her account & then no issue .The payment can be claimed in 80C
Padmaja CA
(Expert)
29 January 2010
no restriction on major or minor child
CA Ravi Sisodia
(Expert)
29 January 2010
no difference between major or minor child for this regard.
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