MasterCFO (CEO and CFO) (25 Points)
28 October 2015Can I pay my term insurance policy premium from my HUF? I do not want any income tax rebate in my personal ITR and even if my HUF is not ablwe to claim it, it is fine with me.
Miss Rinkal
(Student)
(1304 Points)
Replied 28 October 2015
Yes you can do so, there is no issues. Only thing huf will be a creditor and you become a debtor in the respective balance sheets
MasterCFO
(CEO and CFO)
(25 Points)
Replied 28 October 2015
What I wanted was that HUF pay my premium and it can show this as a drawing (Not even as an expense). This way I will save my personal capital.
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