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tax exemption in huf

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(Querist)
22 March 2011 dear sir,

if a person (who is also karta of huf) have an investment in 80c up to 100000 (insurance policies) & huf also take a policy for this person (karta for huf) as premium 100000. Is that amount will be exemption in huf as 80c
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
22 March 2011 yes, provided the premium should be paid out of huf ACCOUNT.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
22 March 2011 yes, you can take as deduction 80C




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