Life Insurance Policy under 80C not allowed for parents - Professionals - Taxation - TIK Share
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Life Insurance Policy under 80C not allowed for parents


CA Pulkit Sharma

2014-02-10

Please note that the Deduction for payment of Life Insurance premium under section 80c is allowed only if paid for self, spouse and childrens.

Life Insurance premium paid for parents whether independent or dependent is not deductible under section 80c.

Rahul Rai

2014-02-10

Does it apply to even premium paid for health insurance?

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CA Pulkit Sharma

2014-02-10

Health Insurance or Mediclaim policies can be taken on the name of spouse, children, or parents.

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