80c rebate

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srudent
26 Points Joined November 2016
I HAVE A QUESTION REGARDING 80C INVESTMENT

CAN A MOTHER OF AGED 55 YRS TAKE REBATE BY DOING LIC POLICY ON HIS SON AGED 26 YRS


KINDLY TELL US urgent
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On 22 March 2019 at 21:50 Report
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Practicing Chartered Accountant
2481 Points Joined June 2013
Yes, provided LIC is paid by Mother from her account
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On 22 March 2019 at 22:25
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srudent
26 Points Joined November 2016
son is married KINDLY provide circular
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On 22 March 2019 at 22:27
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Practicing Chartered Accountant
2481 Points Joined June 2013
Act itself specifies about this
Read Sec 80(C) subsection (4)
it says that person shall include individual, wife or husband, and any child of such individual
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On 22 March 2019 at 22:33
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12 Points Joined April 2017
yes, deduction can be claimed
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On 23 March 2019 at 00:27
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srudent
26 Points Joined November 2016
when children's r major and earning
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On 23 March 2019 at 00:41
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12 Points Joined April 2017
yes, for any child whether dependant or not is claimable
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On 23 March 2019 at 00:52
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srudent
26 Points Joined November 2016
section 80(c) subsection4 not clarify this
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On 23 March 2019 at 00:54
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student
313 Points Joined January 2019

At the same time it does not specify about any  restriction over major or non-dependent or married etc., hence assesses can take it as granted.

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On 23 March 2019 at 08:13
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43 Points Joined August 2018
CA Sahilji..the way u clarify query is too good..keep sharing your valauable knowledge...😊😊
1 Reply
On 24 March 2019 at 20:22


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