I hold an ULIP where the insured is Me (life insured), and the name of the proposer is my father (dependent). I pay an yearly 50K installment towards this.The plan by default is eligible for 80C deductions.
I would like to know whether i would be eligible to show this amount for tax exemption under 80C.As the proposer name is different, whether i can claim this under 80C.
thanks
When yourself is insured, by paying premium by you itself, naturally you can take benefit u/s. 80C.
Yes there is no issue
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