Menu
Lic-friend-80c
I have paid lic premium of my FRIEND of Rs. 25221 through internet banking from my a/c.
Then my friend gave me cash.
Can he take deduction u/s 80C.
Replies (2)
Yes, since he has paid for the premium. If he maintains accounts, ask him to account for loan taken from you and then repaid. (I hope the amount is <20000, since he repaid the loan by cash)
If he is a salaried employee and does not maintain accounts, he should keep the premium receipt safely in his file.
But in my case premiun amount is 25221 i.e. Above Rs. 20000 then is there any problem.
Recent Topics :
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
Related Topics :
CAclubindia
