Dear Members
If LIC Policy is name of husband and premium is paid by cash can wife claim for decuction u/s 80-c
CA Yogesh
(CA)
(77 Points)
Replied 21 November 2011
Hi Friend,
Deduction of LIC Premium is available to Spouse and 2 childrens,hence the LIP benefit can be availed by wife irrespectived of payment made in cash.
CAclubindia
