80c rebate for grand parent
When parents are filing income tax return for their own income;can grand parent claim 80C rebate for Life insurance policy taken on the life of grand son taken from grandparent's own taxable income?
Replies (3)
No, grand parents cannot claim tax deduction u/s 80C for life insurance policy taken by them for their grand children.
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[In case of an individual, deduction is allowed only when the policy is taken on the individual’s life, life of the spouse or any child of such individual.]
Thanks GuptaSir for clarification.
| Originally posted by : |)eep @ k Gupt/\ | ||
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No, grand parents cannot claim tax deduction u/s 80C for life insurance policy taken by them for their grand children. . [In case of an individual, deduction is allowed only when the policy is taken on the individual’s life, life of the spouse or any child of such individual.] |
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