| Originally posted by : Abhisek Mitra | ||
 |
Can Income Tax benefit u/s 80c be availed for a insurance policy taken in the name of grandchild |  |
No, grand parents cannot enjoy tax deduction u/s 80C for policy taken by them for their grand children.
.
In the case of an individual policy should be taken on his own life, life of the spouse or any child (child may be dependent/independent, male/female, minor/major or married/unmarried).
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
