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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80c rebate
Replies (9)
Yes, provided LIC is paid by Mother from her account
son is married KINDLY provide circular
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
Read Sec 80(C) subsection (4)
it says that person shall include individual, wife or husband, and any child of such individual
yes, deduction can be claimed
when children's r major and earning
yes, for any child whether dependant or not is claimable
section 80(c) subsection4 not clarify this
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.
CA Sahilji..the way u clarify query is too good..keep sharing your valauable knowledge...😊😊
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