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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LIC paid for parents
Replies (11)
Chapter VIA DEDUCTION AVAILABLE.
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
Grand parents are not covered obviously but in case parents are not there the tax officer can allow such a deduction on plea.
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.
Solitary exceptional cases are exclusively dealt.
As per the dept contention, above member, Vasudevan C P is right .
Waiting for others opinion also
Waiting for others opinion also
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.
LIC payments can be claimed as deduction only In respect of the individual, individuals spouse and any child of such individual.
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
Yes you are right, I haven't noted query made as regards to grandparents. I have noticed only lic related query Mr. Eswar
I appreciate all of you for expressing your opinions
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