Deduction of lic premium

If I pay lic premium of policy of my working son, can he claim deduction u/s 80C. If I pay through cheque then and if pay in cash then.
Replies (8)

if you pay then you can claim, cash is a differnt matter

My question was that can my son claim it if I pay premium in cash or through cheque.
If such policy is in his name, then he can claim deduction.

I would like to differ. The person making the payment is entitled to deduction. If the father is paying for LIC policy of his son, then the father is eligible to deduction under section 80C.

Regards,

Actually on one site I read that if premium is paid by father through cheque then son can not claim deduction only father can claim. But if father pays in cash then son can claim deduction in his return. Please clarify.

What you have read in the site is Correct. 

The person paying the Premium is only eligible for claiming deduction.

If you pay by chq, your son is not eligible to claim deduction of the same in his Income Tax Computation.

If you pay by cash, Your son will be eligible to claim deduction, (you have to show by way of book entry that this amount was paid by your son from his Cash )

Hello @ Hitesh 
If I pay the premium by chq , Will my son be elegible to claim deduction? 

(If I show by way of book entry that this amount was paid by my son from his Cash/bank account to me) 

Thanks

Yes you may do so.. You can Say in your defence that the Amount was paid by you on behalf of your son which was later reimbursed back to you within a reasonable period. Always remember that the Burden of proof is on the assesse. Assesse has to prove what sort of Transaction was it and how it got settled.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
10 November 2026
Direct Tax Manager

CAAQ CONSULTANCY PVT LTD

New Delhi

CA Final

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
13 November 2026
Accountant

New Mobile India

Muzaffarpur

B.Com

View Details