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Querist : Anonymous

Querist : Anonymous (Querist)

24 June 2011 I had seen one Form 16 recently of one of my client for A.Y. 2011-12. It was from some MNC. In that Form, the company had allowed deduction of LIC Premium paid only on himself and not even on his wife was being taken.
And deduction u/s. 80GG for rent was allowed Rs. 48,000/-.
I will like to know wether company can -

I) disallow LIC Premium paid on spouse &
children for the purpose of TDS on salary ?

II)And can deduction u/s. 80GG be claimed
upto Rs.. 24,000/- or Rs. 48,000/-.

III) What is the age limit for senior
citizen for A.Y. 2011-12?

Please advice me as I have to file the Return. Thank You.

Gupta P K

Gupta P K (Expert)

24 June 2011 1) employer had to consider & allowed LIC premium paid for spouse & his childern.

2) deduction u/s 80GG be claimed Rs 24000/- in this case.

3)age limit for senior citizen is 65yrs for A.Y. 2011-12.

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