Tax benefit
Hi , I am Hina Radadiya and my daughter's name is Prisha. Me and my husband both are doing Job. I have taken LIC policy for my daughter and i have paid the premium from my salary account. But in this LIC policy the proposer for my minor daughter is my husband. Can i take tax benefit advantage? Who will bw tax benefited ? Me or my husband?
Replies (4)
HI Hina, As you said,you and your husband both are doing job but LIC premium paying by you,not by your husband.so,you can deduct LIC Premium u/s 80C From Taxable salary income. you can see this deduction in form 16 (Salary statament fromyour employer).you can claim deduction u/s 80C maxi of 150000.
If u paid by cheuqe u can claim, if cash u have options
Thank you sir to your clarification
Thank u sir for reply.
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