LIC premium

This discussion clarifies whether an assessee can claim a deduction under Section 80C for LIC premiums paid on behalf of a child, regardless of their dependency. While one opinion suggests premiums for a non-dependent child are not eligible, the consensus among other participants is that dependency is not a requirement for claiming the deduction. Therefore, parents can claim the 80C deduction for LIC premiums paid for their children, whether dependent or independent.