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Lic payment as deduction in 80c

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3 Points Posted on 21 November 2018
sec 80 c covers the insurance premium paid for children as decuction. does one get claim for lic paid for daughter in law or grandsons??
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On 21 November 2018 at 13:12 Report
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TDS Preparer
1464 Points Posted on 21 November 2018
LIC deductions paid for self, spouse and children only can be claimed u/s80c. Evrn premium paid for parents are not eligible.
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On 21 November 2018 at 13:22
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Student CA Final
12692 Points Posted on 21 November 2018
Lic only taken for SELF , SPOUSE , CHILDREN are allowed.

for Daughter in Law = Not allowed

For Grandson= Not allowed
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On 21 November 2018 at 13:39
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Tax Consultancy
74 Points Posted on 21 November 2018
children means minor as well as more than 18 yrs
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On 21 November 2018 at 16:18
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TDS Preparer
1464 Points Posted on 21 November 2018
@ ajjy
Children includes both minor and major.
1 Reply
On 21 November 2018 at 16:23


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