Lic premium paid by employer
This query is : Resolved
08 November 2012
Sir,
if LIC premium of employee is paid by employer on behalf of employee , must employee include it in his income.
and may he take rebate of the same in 80c.
what will be the treatment of the same as per income tax act.
if LIC premium of employee is paid by employer on behalf of employee , must employee include it in his income.
and may he take rebate of the same in 80c.
what will be the treatment of the same as per income tax act.
08 November 2012
Hi,
If same is included in his Income then only employe can claim as deduction.
Even if employee is not showing it as income but reimburses that amt to employer then also he can claim.
Condition is traht employee should pay Premium form his earned income.
Thanks//Vaibhav
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If same is included in his Income then only employe can claim as deduction.
Even if employee is not showing it as income but reimburses that amt to employer then also he can claim.
Condition is traht employee should pay Premium form his earned income.
Thanks//Vaibhav
Click thank button to convey your appreciation.
08 November 2012
if Obligation of Employee is paid by the Employer than same would be part of Salary Income of Employee.
and yes Employee can Claim deduction u/s 80C.
and yes Employee can Claim deduction u/s 80C.
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