sir, lic premium paid children and spouse is allowed in under sec 80C. my doubts is can I claim deduction in my ITR in 80C premium paid by my parents
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Quick Summary
This discussion explores whether life insurance premiums paid by parents for their children or spouse are eligible for tax deductions under Section 80C of the Income Tax Act. While premiums paid by an individual for themselves, spouse, or children are generally allowed, the eligibility for parents claiming deductions on premiums paid for their adult children is clarified.