No, deductions cannot be claimed in respect of premiums paid in cash.
A parent can claim deduction only on amount of premiums paid on behalf of only dependent children.
Under section 80C, deductions are only allowed to individual and HUF.
The deduction can be claimed in the year of purchase of property itself.
Interest income u/s 80TTB is allowed as deduction if the taxpayer is a senior citizen of above 60 years of age.
No, deductions cannot exceed Gross total income.
Yes, only when assessee is resident individual himself and is a person with disability (Section 80U) and also has incurred an expenditure for the medical treatment of a dependent person with disability (Section 80DD) or has paid or deposited amount under any scheme framed in this behalf by the LIC or any other insurer, etc.
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