Premium paid by father for his daughter
This query is : Resolved
22 December 2021
If a father pays LIC premium for his married daughter through NEFT / Cheque, etc. from his account. Can the premium be claimed u/s 80C by the daughter in her return? Please clarify.
22 December 2021
Yes, provided father has not claimed it in his ITR.
22 December 2021
Sir thanks for the quick reply. But as per my understanding it is to be claimed by the person making payment. Please tell some link or something else for this so that daughter can claim it as father has not claimed it in his ITR.
22 December 2021
Though it is debatable issue, but daughter can claim it as gift from father, and declare the payment in her account.
22 December 2021
OK Sir, means she can claim it u/s 80C and amount can be treated as gift to her from father. But then is the amount to be shown somewhere else in ITR2 as gift from father.
22 December 2021
Yes , under schedule Except Income; along with all other gifts..
22 December 2021
Thanks sir for the quick guidance.
22 December 2021
Most Welcome ...
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