Lic premium.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2011
How it can be understood if LIC premium paid by employee's wife for her policy and her children's policy and the employee is claiming rebate on such premium paid. What stands for LA and PR in the premium receipt.It's urgent kindly send your opinion.
CA PARAS BAFNA
(Expert)
20 December 2011
Employee can claim deduction only when payment is made by himself.
.
He can pay premium on the life of his children and spouse and can claim rebate.
.
LA means Life Assured and PR may be for the Proposer.
.
He can pay premium on the life of his children and spouse and can claim rebate.
.
LA means Life Assured and PR may be for the Proposer.
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