80 c exemption
This query is : Resolved
Mukesh Choudhary
(Querist)
02 August 2011
DEAR EXPERTS,
IF AN INDIVIDUAL HAS TAKEN A LIC POLICY ON HIS OWN NAME.
ON THE NEXT YEAR HE WANTS TO CLAIM EXEMPTION FROM HIS HUF FOR THE SAID POLICY PREMIUM.
IF HE PAID THE PREMIUM FROM HIS HUF A/C CAN HE CLAIM EXEMPTION FROM HIS HUF INCOME.
IF AN INDIVIDUAL HAS TAKEN A LIC POLICY ON HIS OWN NAME.
ON THE NEXT YEAR HE WANTS TO CLAIM EXEMPTION FROM HIS HUF FOR THE SAID POLICY PREMIUM.
IF HE PAID THE PREMIUM FROM HIS HUF A/C CAN HE CLAIM EXEMPTION FROM HIS HUF INCOME.
02 August 2011
He can claim exemption from his HUF account provided he pays it from HUF account only.
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