Can my Father show LIC payment for tax benefit , If I am paying it by credit card ?

POSTED BY join2tarun ON April 2, 2014 10:40 pm COMMENTS (4)

suppose my father has one lic policy and i am paying premium through my credit card then he can show this premium under 1L rebate? what he has to do for it? please reply

4 replies on this article “Can my Father show LIC payment for tax benefit , If I am paying it by credit card ?”

  1. ashalanshu says:

    Dear Tarun, for the given situation, your father can not claim tax benefit.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Tarun, the prem. should be paid by him from his own funds to be able to claim tax benefit.

    Thanks

    Ashal

  3. Hemanth Chandra says:

    Dear Tarun,

    Money that you are paying is earned by you or your father ??

    Regards,
    Hemanth.

    1. join2tarun says:

      i have earned that. i pay my credit card bill from my salary account. so in this case what should be the scenario?

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