Lic premium u/s 80c

This query is : Resolved

Jagan Mohan Misra (Querist)
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29 January 2013 LIC policy is in the name of Mr X.
Mrs X wants to take benefit of the premium paid by her on the above policy.
Premium receipt is in the name of Mr X.
Is it allowed U/S 80C?

ACS Gaurav Jain

ACS Gaurav Jain (Expert)
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29 January 2013 yes...............................

CA Prashant Gupta

CA Prashant Gupta (Expert)
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29 January 2013 as per 80C. for lIC premium spouse can take benefit.
So Mrs X can take benefit of LIC premium which is in name of Mr. X.
But then Mr. X can't calim that. only one can claim that premium

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