Deduction for LIc premium
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
30 March 2009
I paid Rs. 100/- extra towards late payment of LIC premium. Will this amount is also deductible u/s 80C?
Also my LIC premium is paid by Mr. 'X' before march,09 and i paid to 'X' in April. Can i claim deduction u/s 80C in 2008-2009?
Also my LIC premium is paid by Mr. 'X' before march,09 and i paid to 'X' in April. Can i claim deduction u/s 80C in 2008-2009?
30 March 2009
You will not get benefit of Rs 100 late payment charges.
BUt yuo can get the benefit in 2nd case though payment is made by someone else on you policy.
BUt yuo can get the benefit in 2nd case though payment is made by someone else on you policy.
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30 March 2009
i agree with mr. prakash
Manmohan ACA, CS
(Expert)
31 March 2009
In the first case deduction u/s 80C is not allowed, as it is not premium but penalty(or interest) amount.
in the second case it is also allowed
in the second case it is also allowed
Ravi Kumar Rajgaria
(Querist)
01 April 2009
If premium of husband is paid by wife( cheque issued from her bank account).
can husband claim the deduction in his Return? or it is compulsory to pay the premium from own fund/bank account?
can husband claim the deduction in his Return? or it is compulsory to pay the premium from own fund/bank account?
01 April 2009
Husband can claim.
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