Employer insurance contribution
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 March 2013
Dear Sir,
1. Our company is contributed LIC Premium Rs.15,000/- to an employee and Debited 75% of Rs. 11,250/- to his Salary Account & Debited Rs. 3,750/0 to his Advance Account & recovered from monthly salary.
Please advise that whether he can avail Rs. 15,000/- under 80C in his tax filing. LIC Policy is in Employee name.
2. Our Company is contributed Rs. 9000/- to an employee for Medical Insurance and Accounted in Employee Insurance (Expense) Account.
Please advise that whether he can avail Rs. 9,000/- under 80C in his tax in his tax filing. Oriental Policy is in Employee name.
1. Our company is contributed LIC Premium Rs.15,000/- to an employee and Debited 75% of Rs. 11,250/- to his Salary Account & Debited Rs. 3,750/0 to his Advance Account & recovered from monthly salary.
Please advise that whether he can avail Rs. 15,000/- under 80C in his tax filing. LIC Policy is in Employee name.
2. Our Company is contributed Rs. 9000/- to an employee for Medical Insurance and Accounted in Employee Insurance (Expense) Account.
Please advise that whether he can avail Rs. 9,000/- under 80C in his tax in his tax filing. Oriental Policy is in Employee name.
01 March 2013
Hi
Even though policy is in employee name, no amount is removed from employee for Medi. Insurance hence no deduction u/s 80D or 80C.
Deduction w.r.t. Rs. 15000 for LIC is allowed u/s 80C since it is paid by employee through his salary.
Thanks!!
Even though policy is in employee name, no amount is removed from employee for Medi. Insurance hence no deduction u/s 80D or 80C.
Deduction w.r.t. Rs. 15000 for LIC is allowed u/s 80C since it is paid by employee through his salary.
Thanks!!
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