Lic deduction

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.