Lic premium payment for wife
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 September 2014
Dear Experts,
Thanks in advance to pay me your attention. I have paid my wife's LIC premium last year through account payee cheque in order to get deduction u/s 80C for myself. My wife didnot claim it in her ITR.
My query is whether the amount so paid will be treated as gift to wife or I can treat it as loan and get it back from her, or I will get this amount on maturity of policy proportionately ( with related bonus ).
Thanks again for your time.
Thanks in advance to pay me your attention. I have paid my wife's LIC premium last year through account payee cheque in order to get deduction u/s 80C for myself. My wife didnot claim it in her ITR.
My query is whether the amount so paid will be treated as gift to wife or I can treat it as loan and get it back from her, or I will get this amount on maturity of policy proportionately ( with related bonus ).
Thanks again for your time.
05 September 2014
yes u can treat it as a loan and then recliam it
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