80c
This query is : Resolved
naresh kumar
(Querist)
26 February 2013
If an employer pays the lic premium from his account .can he takes the rebate of the same in 80c.
or employee will take the rebate of the same and what will be the treatment of the same in both employer and employee 's income tax return
or employee will take the rebate of the same and what will be the treatment of the same in both employer and employee 's income tax return
26 February 2013
Hi
Person paying lic premium is eligible.
If employer is recovering lic prem. by deducting amt. from salary then he would be granted deduction u/s 80C.
However in no case an employer can claim deduction u/s 80c, however but same can be considered as employee cost and business expense can be claimed.
Thanks!!
Person paying lic premium is eligible.
If employer is recovering lic prem. by deducting amt. from salary then he would be granted deduction u/s 80C.
However in no case an employer can claim deduction u/s 80c, however but same can be considered as employee cost and business expense can be claimed.
Thanks!!
26 February 2013
Agree with VaibhavJ
26 February 2013
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