X is father and Y is his son.
Case - Y has taken life insurance policy under which deduction is available under Sec. 80C. X is Proposer(policy holder is father) and life insured is of Y. Payment is made from joint account and reciepts are in name of X. Y is working in a company and his company CA refused to take into account insurance policy for tax benefits as reciepts were in father's name.
I want know whether Y can take benefit under sec. 80C ?
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