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Lic of Grandson of Karta Paid by Huf
Lic Of Grandson of Karta has been paid by Huf. Can Huf claim this premium u/s 80C. Grandson's Father already has his seprate huf.
Replies (9)
If a HUF paid LIC premium of any member of its family then the premium is eligible for deduction U/S 80C. So in this case HUF will get the Deduction.
Dear Ajay,
If Grandson is a member of HUF, then Yes payment is eligible for deduction
Agree with Mr.Amir
If Grand son is a member - Huf can avail the deduction u/s 80C
will grandson be a member of his grandpa huf or his father huf or both
will grandson be a member of his grandpa huf or his father huf or both
Dear Ajay,
As long as Partition is not there, I think Grandson will be a member of both HUF's
Let's see what other;s reply.
i agree with amir , till partition grand son will be member of both huf. according to me deduction should be given to father's huf, if paid by father .
agree with Mr. Amir...
but I have a query regarding this....
i heard from one of my friends that HUF can be formed with 3 generations in existence.... i want to know about this....
If that was right, how can father form a HUF????
My father has HUF file and i also have HUF file. I am depositing in my daughter PPF for 80c benefit through HUF.
Can my father deposit in PPF of my son (i.e.My father’s grand son) for 80C benefit through his HUF?
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