hi all,
If an employee pay the lic premiun for his mother's policy.For this can he get the deduction U/S 80 C.
Regards
Rina
Menu
Deduction U/S 80C
Replies (3)
yes
1 can claim the deduction u/s 80c subject to
the parents should be dependent on the person who wants to claim the above benefit.
In case of an individual, mother does not fall within the definition of "person" as per Sub Section 4 of Section 80C. You will not get any benefit
The deduction is available for the individual, the wife or husband and any child of such individual only.
So you will not get deduction on mother's policy.
Recent Threads
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
- Error in GSTR1 filing for October 25
- Inverted Rate structure .
- Exemption to be climed
- GST TDS u/s 51 Applicability on RBI and it's subs
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
Related Threads
CAclubindia
