Lic premium paid from wife bank account

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Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2015 Can husband claim the benefit of lic premium paid from his wife bank account.

Deepti Asawa

Deepti Asawa (Expert)
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15 August 2015 No, Person who paid premium can only get benefit. So If premium paid by wife than benefit cannot be claim by Husband

Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2015 THANKS DEEPA,
BUT HUSBAND IS ALSO TRANSFERRING FUNDS TO HIS WIFE ACCOUNT FROM HIS BANK ACCOUNT.THEN CAN'T HE CLAIM THE PREMIUM AGAINST THAT TRANSFER.

Deepti Asawa

Deepti Asawa (Expert)
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18 August 2015 Yes,if wife pays the amount of premium as loan and husbnad pay as loan repayment than he can claim LIC premium. https://www.caclubindia.com/experts/lip-payment-deduction-u-s-80c-of-i-t-act-605770.asp