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Regarding 80c deductions
if my parent paid my lic premium through cheque ( via their bank account) , can I show it for my deductions?
Replies (8)
Quick Summary
If you have reimbursed them the amount and they are not claiming the deduction, you can claim the deduction.
Madam parents are not claiming ,I reimbursed through cash (by hand ) , can I show in deductions?
| Originally posted by : Karteek V | ||
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if my parent paid my lic premium through cheque ( via their bank account) , can I show it for my deductions? |  |
Your Father can take benefit of 80C instead of you in your case
You father can take benefit u/s 80C, if you want to take benefit than show the amount reimbursement to your father via cash/ cheque than u take benifit.
How to show reimbursement done to my parent via cash
If you are maintaining books of account that through entry in books of accounts of both
if you are not maintaining books than than there is no need to show any where, just explain that u reimburse the said amount to father.
for safer side u can take sign receipt from father for reimbursement of same.
if you are not maintaining books than than there is no need to show any where, just explain that u reimburse the said amount to father.
for safer side u can take sign receipt from father for reimbursement of same.
@ Sagar Patel thank you sir
You are most welcome, sir👍
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