80c - lic
This query is : Open
11 April 2012
Dear Experts,
Is late fees paid on LIC Premium allowed as deduction u/s 80C??
Kindly give ref. of case study, if any.
Thanks in anticipation.
Is late fees paid on LIC Premium allowed as deduction u/s 80C??
Kindly give ref. of case study, if any.
Thanks in anticipation.
11 April 2012
Only premium is eligible under section 80C, Late payment fees can be claimed by way of deduction.
Simply, not allowed
Thanks
Mihir Doshi
Simply, not allowed
Thanks
Mihir Doshi
11 April 2012
https://www.caclubindia.com/forum/details.asp?mod_id=118960&offset=1
Please also check the discussion from below link in this regard.
Please also check the discussion from below link in this regard.
11 April 2012
agree only premium amount can be claim in 80C
11 April 2012
Typing mistake. Late payment fees will not be allowed by way of deduction.
12 April 2012
Thanks a lot,
but still it seems to be a debatable point.
Even in the link given by Sanjay Guptaji, i cant see any conclusion.
Is there any case law on the same??
but still it seems to be a debatable point.
Even in the link given by Sanjay Guptaji, i cant see any conclusion.
Is there any case law on the same??
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