80C Deduction of LIC

It is not allowed.

see the below link:

https://www.taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html

Mr. Vitrag deduction u/s 80 c available in respect of self, spouse & child . hence it is not available for father , mother , brother & sister. in other words 80c can be claim by father in respect of child But child can not get 80 c in resp[ect of  parents

Originally posted by : Vitrag S Modi
	I just want to know whether deduction inrespect of LIC paid for Father, Mother, Brother and Sister is deductible u/s. 80C or not. Please chk it.

No you cannot get the deduction u/s 80C for LIC premium paid of father mother and brother.

Deduction can be claimed on LIC premium for self, spouse and children.

can i get deduction u/s 80c in respect of premium paid for self ,wife,sons (aged 32,29,27 ) yers respectively.

In order to claim deduction u/s 80C for LIP, whether the premium has to be paid in the previous year only?

@ venkatesh

Yes,  it is paid in Previous Year only

no ONLY 4 SELF SPOUSE N CHILDREN...

@ SKUMAR-YES U CAN..

Dear Sir,

please let me know if father, mothers ,brothers & Sister's LIC premium paid by us then it will be deductable or not????

awaiting for your reply..????