80C deduction

[Mukund Honkan]

LIC premium paid for Life Insurance of brother who is dependent, whether it will get allowed u/s 80 C. We understand that only premium paid on behalf of spouse or children is allowed, whether other dependents covered under section 80C. Regards, Mukund M Honkan

[Vivek Harsh]

under 80C such individual, spouce and children are covered. Dependent brother are not covered. 

AI Summary

Deductibility of life insurance premiums: only premiums for taxpayer, spouse or children qualify; dependent brother excluded. Premiums paid for life insurance are deductible only when paid for the taxpayer, the taxpayer's spouse or the taxpayer's children; premiums paid for a dependent brother are not allowable and are excluded from the deduction under the applicable deduction framework.