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80c benefit for insurance policy in the name of grandchild
Can Income Tax benefit u/s 80c be availed for a insurance policy taken in the name of grandchild
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| Originally posted by : Abhisek Mitra | ||
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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.
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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).
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