Section 80 C of IT act covers the Life Policies taken on the life of " CHILD " of the individual. In this connection, I would like to know weather " CHILD" includes grand child also. Is there any case law on the subject.
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Entitlement of Sec. 80 C of It act
Replies (2)
Incase of an individual, deduction is available in respect of policy taken in the name of taxpayer or his/her spouse or his/her children.
grand child is not considered in 80c
grand child is not considered in 80c
No case law required when section clearly provides deduction eligibilty.
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