80C : Can LIC premium paid for Dependent Parents be claimed

Can one suggest me a good LIC term plan which can give me high returns upon maturity?

Hi, under Section 80C, you can claim a tax deduction of up to Rs. 1.5 Lakhs on your LIC premium. However, please keep in mind that the premium amount should not exceed 10% (or 20% in certain older policies) of the actual sum assured to qualify for the full deduction.

If you want to check the exact premium for your specific policy, including GST and the potential tax-saving amount, you can quickly calculate it by entering your age and sum assured here: https://policymaturity.in/tools/

Hi, under Section 80C, you can claim a tax deduction of up to Rs. 1.5 Lakhs on your LIC premium. However, please keep in mind that the premium amount should not exceed 10% (or 20% in certain older policies) of the actual sum assured to qualify for the full deduction.

If you want to check the exact premium for your specific policy, including GST and the potential tax-saving amount, you can quickly calculate it by entering your age and sum assured here: https://policymaturity.in/tools/

@ lohit Saravana 

No you cannot claim deduction if the insured person is your father.

@ Mohit Sarda

There is no restriction in law for deduction related to independent child. It can be claimed for both dependent and not dependent children