Entitlement of Sec. 80 C of It act

This discussion clarifies the eligibility for deductions under Section 80C of the Income Tax Act concerning life policies. It confirms that deductions are available for policies taken on the taxpayer, their spouse, or their children. However, the section does not explicitly include grandchildren, and therefore, policies taken on grandchildren are generally not eligible for this deduction. No specific case law is required as the section's wording is considered clear on this point.