Income Tax

Hariom Sharma (Querist) 15 March 2011 This query is : Resolved
Dear Sir,

My mother is widow and getting pension from Railway Department. Can i claim the insurance policies taken on her name for tax benefit.

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soumitra basu (Expert) 15 March 2011
Yes, provided you pay the amount, the policy is in your name and your mother is only the beneficiary.

R.Ramachandran (Expert) 15 March 2011
I think the policy itself is in the name of his mother and he is only contributing the premium amount. That is why he wants to know whether he would be able to get the income tax benefit. Obviously, the answer is he will not be entitled to claim income tax benefit in such a case.

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