HUF TAXATION

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chetan (Querist)
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18 September 2009 Pls let me know whether a person who is an HUF asesse claim the tax benefit of Rs 1 lac in his file by paying his son`s LIC Premium ?If then u/s which section of the Act.The son is not a member in his father`s HUF file.Pls let me know as soon as possible. Thanks & regards

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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18 September 2009 The son should be a member of father's huf. Please check again. The lic paid for members can be claimed by huf.

chetan

chetan (Querist)
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19 September 2009

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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19 September 2009 huf can claim deduction when lic is paid for the members of the huf.

chetan

chetan (Querist)
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19 September 2009 Thanks for the reply sir. The son is not a member of his father`s huf file. The son is having his own independant huf file with his wife as a member. In this case can the father claim the lic benefit if he pays for his son. Kind Regards

Amit Sheode

Amit Sheode (Expert)
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19 September 2009 Basically the concept is going ahead on a wrong appreciation of law. HUF is a concept of HIndu customary law. Under the Hindu law son is a member of fathers HUF by birth & no amount of any other intervention can prevent him from being a member of the father's HUF. I am not sure whether it is legally correct for him to have his own HUF without demanding a partition of his father's HUF. Pls go through Hindu Succession Act for the procedure of demanding succession.
Thus in the present case I am of the opinion that the son is a member of his father's HUF & the legal validity of his own HUF is questionable.

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