Lic deduction

I Have paid LIC premium on my son name from son's bamk account.
can i claim deduction in my HUF.
Replies (2)
Quick Summary
This discussion clarifies whether LIC premiums paid from a son's bank account on his behalf can be claimed as a deduction under Section 80C for an HUF. While individuals and HUFs can claim deductions for premiums paid on their own life, spouse, or child's life, the key is who made the payment and for whom. The provided information confirms that premiums paid for a child's life are eligible for deduction under Section 80C, regardless of the child's dependency status.

No.......
If you have paid an insurance premium to insure your own life or the life of your spouse or child, such premium payments are eligible for deduction under section 80C of the Income Tax Act. Irrespective of your child being dependent or independent, minor or major, married or unmarried, the deduction under section 80C shall be allowed. An individual and a HUF, both, can claim this deduction under Section 80C.

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