80c
This query is : Resolved
pavan mirajkar
(Querist)
19 May 2011
If in a HUF, KARTHA has paid LIC premium on his son and son has also paid the LIC premium on his life but by way of different insurance policy. can the son claim 80C deduction on payment of premium on his life? and what will happen about KARTHA'S payment to LIC premium?
19 May 2011
The payment made by karta shall be eligible for deduction from HUF if it is paid out of the funds of HUF. In case of son paying his own premium, he will get the benefit u/s 80C in his own individual return.
CA. Aryendra
(Expert)
19 May 2011
Yes Agree With Mr Gopal
Deduction is available to the payee only.
Deduction is available to the payee only.
19 May 2011
@ CA. Aryendra Gangwar - How come the deduction is available to "payee"??
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- EPF ECR NEW RULES Sep 17th 2026
- MSME disclosure and disallowance
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
