80c deduction

Tax planning 971 views 10 replies
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CA Final
122 Points Joined April 2008

Can LIC Premium paid by all members of HUF be claimed as deduction u/s 80C for HUF Tax purpose?
 

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On 20 September 2011 at 16:13 Report
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CHARTERED ACCOUNTANT
203 Points Joined August 2007

Yes if it is not claimed in their Individual Income Tax Return.

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On 20 September 2011 at 16:34
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Accounts manager-MBA
2150 Points Joined July 2008

agree with above

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On 20 September 2011 at 17:57
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Gaining knowledge...
320 Points Joined September 2009

Yes, It can be claimed

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On 20 September 2011 at 19:00
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MANAGER ACCOUNTS
2277 Points Joined August 2011

Agree with above....

Deduction u/s 80C,can claim be individual\HUF....

PAYMENT OF LIC PEMIUM IS COVERED....

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On 20 September 2011 at 20:23
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Expert
6394 Points Joined May 2011

Yes it can be claimed, but payment must be made by the HUF not by the individual from their pocket.....

please correct if wrong...

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On 21 September 2011 at 11:12
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B.Com M.Com STUDENT CWA IPCC
507 Points Joined March 2010

WE CAN CLAIM.

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On 21 September 2011 at 11:13
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Partner
320 Points Joined August 2008

agreed with experts

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On 21 September 2011 at 11:40
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employee
112 Points Joined June 2011

Yes the deduction can be claimed if paid by HUF . 

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On 21 September 2011 at 12:40
Guest

Thanks friends.....

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On 22 September 2011 at 23:10
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CA IN PRACTICE
16719 Points Joined May 2011

YES DEDUCTION CAN BE CLAIMED

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On 23 September 2011 at 08:16


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