Lic premiums
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 January 2013
Hello sir,
Father is an income tax assessee senior citizen proposer for payment of lic premiums to his son, son is married and he has a child with age of 7 years but he is not incometax assessee and he belongs to big family not separated , can father(senior citizen) takes a benefit U/s 80c towards payments of his sons premiums, pls kindly reply me soon, waiting for your early compliance and oblige.
Father is an income tax assessee senior citizen proposer for payment of lic premiums to his son, son is married and he has a child with age of 7 years but he is not incometax assessee and he belongs to big family not separated , can father(senior citizen) takes a benefit U/s 80c towards payments of his sons premiums, pls kindly reply me soon, waiting for your early compliance and oblige.
Guest
Guest
(Expert)
13 January 2013
yes as per section 80-c father can claim deduction on account of payment of his son whether dependent or not, but he can not claim of his grand son
13 January 2013
Yes Correct,
Grandson is not allowed for claiming deduction under section 80C.
Grandson is not allowed for claiming deduction under section 80C.
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