Question:

Can i include the premium for Insurance taken on the name of my mother for my tax exemption?

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I have an Insurance policy taken on the name of my mother i.e she is the policy holder. But i am paying the Insurance premium. Can i take exemption for the premium paid?

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3 ANSWERS


  1. No.  The money you're paying for her insurance, is your gift to her.


  2. absolutely not

  3. No, insurance isn't tax deductible (generally speaking).

    Jeff

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