tax benefits for parents

Income Tax Deduction for life insurance premium is available under section 80C of IT Act, 1961. Under this section premium paid to ensure your life, life of your spouse and any of your child is eligible for income tax deduction up to a maximum of Rs. 1, 00, 000. As no specific deduction is available for parents under section 80C, the taxpayer will not be eligible for income … [Read more...] about Tax eligibility in the case of insurance premium paid for Parents