banner_ad

ULIP contribution paid by employer

282 views 2 replies
As ULIP contribution paid by employer is taxable salary but is it eligible for deduction us 80c??
Replies (2)
no 80c deduction cannot be claimed
Ulip policy is in name of assessee. And in the tax laws wording are “
(x)as a contribution,in the name of any
person specified in sub-section(4),for
participation in the Unit-linked
Insurance Plan,1971(hereafter in this
section referred to as the Unit-linked
Insurance Plan)specified in Schedule II
of the Unit Trust of India(Transfer of
Undertaking and Repeal)Act,2002(58 of
2002);
(xi)as a contribution in the name of any
person specified in sub-section(4)for
participation in any such unit-linked
insurance plan of the LIC Mutual Fund
referred to in clause(23D). "
So assessee is eligible for deduction however firstly such contribution by employer should be added in his taxable income.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details