Sec 80c - lic premium
This query is : Resolved
Ruchi Agarwal
(Querist)
19 July 2014
Can A(HUF) claim deduction u/s. 80c for lic premium where the policy is in the name of Mr. A & the premium is paid to LIC by Mr. A of Rs. 1,00,000/- & then the amount of 1,00,000/- is paid back in the account of Mr. A from the account of A(HUF)..??
CA UMESH DULAL
(Expert)
19 July 2014
Huf can claim the premium paid by HUF for the insurance of karta or members of HUF. Mr A will have to claim the benefit not the HUF
Ruchi Agarwal
(Querist)
21 July 2014
but the amount is reimbursed by huf to mr. A
CA UMESH DULAL
(Expert)
22 July 2014
HUF will have to claim. you should remember that personal agreement can not over ride the statute
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