A Father has paid Insurance Premium on the policy in the name of his Son. Now, my question is, who is eligible to claim the benefit of the same u/s 80C in the Income Tax Return ? :
1) The Father; 2) The Son, or 3) Both can claim
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Sec. 80c deduction
Replies (6)
The father, provided the son is Dependant on the father.
@ Hitesh: Are you sure it is dependent son, because I have not across such requirement?
Father if paid from cheque or account he can claim, if cash, benifit can be claimed by either of them, not both.
Father bcoz he is owner
Father
father can take the benefit if the payment is nade by cheque or by net banking
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