Dear Sirs
I have a very typical Query
My Father is a Senior Citizen.
He has a lapsed policy where my sister is insured.
My father is now not paying the premiums of this policy, he has already paid a premium of INR 75000.
Now if i pay this premium on his behalf, from my income, can i claim section 80 C deduction.
The insurance company told me i can also get the name of proposer changed.
In that scenario also i shall be paying premium for my sisters insurance.
Still can i claim the deduction.
Looking forward to your expert reviews.
BR
Vikram
CAclubindia
