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80c-lic deduction
The proposer and life assured is the daughter and the nominee is the mother.The premium is paid by the mother on behalf of the dependent daughter.Will the mother be eligible for 80C as per the Income Tax Act.The premium receipt is in the name of the daughter.
Replies (3)
from the incometax view, mother can claim
but from the insurance view, a non earning hand can not be proposer of LIC in his / her name, cross checking of policy is needed, who is proposer of the policy,
and premium is calculated on the basis of proposer age,
Sir,
Thanks for the reply.Kindly note that the LIC premium receipt is in the name of the daughter.So then ,how can the mother claim the benefit of income tax deduction?
bank entry of mother that she paid the LIC premium is enough
80C is payment based deduction,
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