Hello
I have paid life insurance policy of rs. 40000 for my father. would i eligiable for deduction u/s80c.
thank in advance
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deduction u/s 80c
Replies (4)
yes sir...... u can definitely claim that premium u/s 80 C.......
regards,
ratan
yeah u can claim
according to sec 80C the deduction is available if the policy is taken on own life, life of spouse or any child but not for parents
Mr. Navin.. sorry for my first reply..... deduction for insurance premium can be taken by individual only if premium is paid on the life of individual, spouse or children (whether minor or major./married or unmarried.)
regards,
ratan
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