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LIC paid for parents

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CFO- at NHTF
58280 Points Posted on 31 May 2022
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 ?
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On 31 May 2022 at 08:01 Report
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Profession Business
28207 Points Posted on 31 May 2022
Chapter VIA DEDUCTION AVAILABLE.
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On 31 May 2022 at 10:08
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403 Points Posted on 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
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On 31 May 2022 at 10:09
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Profession Business
28207 Points Posted on 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.
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On 31 May 2022 at 10:34
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Chartered Accountant
5010 Points Posted on 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. 

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On 31 May 2022 at 10:43
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Profession Business
28207 Points Posted on 31 May 2022
Solitary exceptional cases are exclusively dealt.
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On 31 May 2022 at 11:14
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CFO- at NHTF
58280 Points Posted on 31 May 2022
As per the dept contention, above member, Vasudevan C P is right .

Waiting for others opinion also
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On 31 May 2022 at 11:20
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Profession Business
28207 Points Posted on 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.
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On 31 May 2022 at 12:33
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12244 Points Posted on 31 May 2022
LIC payments can be claimed as deduction only In respect of the individual, individuals spouse and any child of such individual.
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On 31 May 2022 at 12:39
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CFO- at NHTF
58280 Points Posted on 31 May 2022
LIC for self , spouse , children

Mediclaim for self, spouse, children and parents .

Hope this is written in section
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On 31 May 2022 at 12:52
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12244 Points Posted on 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
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On 31 May 2022 at 13:20
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CFO- at NHTF
58280 Points Posted on 31 May 2022
I appreciate all of you for expressing your opinions
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On 31 May 2022 at 14:34


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