Income tax - lic for husband and wife

You can definitely take deduction for LIC premium paid for your spouse under Section 80C. Proof of payment needs to be given to employer.

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Originally posted by : Jayanthi
	Hi, I want to know whether the LIC premium payment made to the policy  taken in the name of my husband is eligible for claiming tax benefit from my salary. If so do I need to give any certificate to my employer to this effect... Kindly help. Thanks in advance.

Yes you can madam, however your spouse (Husbend) can not claim the same in his IT return u/s.80C
 

Dear Jayanthi Ji,

You can claim the deduction of LIC premium paid for the life cover of your Spouse u/s 80C of I.T. Act, provided the amount of premium do not exceed 20% of the Sum assured of Life Policy and the threshold limit of Rs. 1,00,000/- u/s 80C is not yet exhausted in your case.

Further to the above viws, I just want to add that you may show the bank statement for premium payment-- just showing the premium receipt might not be full proof as it is in your spouse's name.

Thanks to all of you...........

Can any one tell me whether I need to give any certificate from my husband's employer that he hasn't claimed the amt...

you are not required to give certificate from the employer of husband to her employer.

Yes no need of certificate from your husbend employer, just dont claim the same from your husbend return.

agree with all....... they all are perfectly correct.......

agree with Neha Jain.......

No sir.

LIC of your spouse and children can be calimed.

I want to know whether LIC payment made by my wife and LIC policy also her name. Can I claim deduction us 80c from my salary.

 

I want to know whether LIC payment made by my wife and LIC policy also her name. Can I claim deduction us 80c from my salary.