Hi,
I’m paying LIC premiums for my mom and dad from 2009. Can these premiums be claimed under tax exemption in any section or way. In my previous company, they accepted these premiums for tax exemptions as I’m the only one paying the premiums. My present company is denying for doing so now.
Please clarify my above doubts.
From India, Vadodara
I’m paying LIC premiums for my mom and dad from 2009. Can these premiums be claimed under tax exemption in any section or way. In my previous company, they accepted these premiums for tax exemptions as I’m the only one paying the premiums. My present company is denying for doing so now.
Please clarify my above doubts.
From India, Vadodara
Insurance premium paid for parents is not eligible for deduction under section 80C.
From India, Pune
3131From India, Pune
Clarification to above; Section 80D provides tax deduction for health insurance of parents of assesee. In case of senior citizens,deduction is upto Rs20000.
From India, Pune
From India, Pune
In any other section or in any other way, can't i make the claim ? Coz, My parents are not working and since policies are taken by me in their names and I'm paying the premiums every 6 months from my bank account and no one is claiming the premiums.
From India, Vadodara
From India, Vadodara
You can get deduction section 80D for health insurance of parents.Mediclaim policy)
From India, Pune
From India, Pune
Friends, Sec 80D is related to Health Insurance and not Life Insurance. You can get tax benefits for the Premium paid under health insurance schemes for parents. Kindly check. Regards, A.B.
From India, Mumbai
From India, Mumbai
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