Hi,
Presently, I'm paying the premium for my wife's LIC Policy and I'm not listed as a nominee.
Is it posiible for me to gain tax benefit by including the amount in my tax projections?
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Lic tax benefit
Replies (1)
Deduction u/s 80C for LIP is allowed to an individual when the policy is taken in the name of individual himself, spouse or any child of such individual.
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You don’t necessarily have to be a nominee. Hence, you can claim the deduction.
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