If LIC paid for dependent parents ,
Is it allowed as deduction for the payer ?
If medical insurance paid for grand parents who are senior citizens, How much is the eligibile deduction ?
11 Replies
Vasudevan C P
(403 Points)
Replied 31 May 2022
Hi Eswar sir,
1. I could understand it's not allowable.
2. definitely not available for deduction. only Parents of spouse covered in 80D. Grand parents not covered
Regards
1. I could understand it's not allowable.
2. definitely not available for deduction. only Parents of spouse covered in 80D. Grand parents not covered
Regards
sabyasachi mukherjee
(27819 Points)
Replied 31 May 2022
Grand parents are not covered obviously but in case parents are not there the tax officer can allow such a deduction on plea.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 31 May 2022
Yes, the deduction is allowed to the son of the LIC premium paid for dependent parents.
In my opinion, also, no deduction is allowed for grandparents u/s 80D.
sabyasachi mukherjee
(27819 Points)
Replied 31 May 2022
Solitary exceptional cases are exclusively dealt.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 31 May 2022
As per the dept contention, above member, Vasudevan C P is right .
Waiting for others opinion also
Waiting for others opinion also
sabyasachi mukherjee
(27819 Points)
Replied 31 May 2022
I had a word with the dept. the point is if grandparent is alive so the immediate parent are not alive. So these are extreme solitary caees.
rama krishnan
(12244 Points)
Replied 31 May 2022
LIC payments can be claimed as deduction only In respect of the individual, individuals spouse and any child of such individual.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 31 May 2022
LIC for self , spouse , children
Mediclaim for self, spouse, children and parents .
Hope this is written in section
Mediclaim for self, spouse, children and parents .
Hope this is written in section
rama krishnan
(12244 Points)
Replied 31 May 2022
Yes you are right, I haven't noted query made as regards to grandparents. I have noticed only lic related query Mr. Eswar
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 31 May 2022
I appreciate all of you for expressing your opinions
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