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Claim by father
Son has paid LIC Premium on his own life. But he is not having Taxable income. His father is having Taxable income. Is it correct if father claims LIC Premium paid by his son in his Income Tax Return ?
Replies (3)
No. Not eligible.
If father is proposer of the policy, he has to pay for its claim.
Proposed whose name?
No,parents can pay premium for himself,spouse and their children .But if father has to claim the rebate ,he has to pay from his account.
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