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Lic pymnt by huf

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(Querist)
22 December 2012 CAN HUF MAKE THE PYMNT OF LIC PREMIUM ON BEHALF OF IT;S MEMBER FROM IT'S OWN FUND
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@VaibhavJ

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@VaibhavJ (Expert)
22 December 2012 Hey hi,

Yes HUF can make LIC premium payment on behalf of its members. It may be on the life of any member of HUF.

Thanks//Vaibhav
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Pankaj Gupta

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Pankaj Gupta (Expert)
22 December 2012 Allowed under sec 80c but for the members of huf only which are karta, his daughters and sons. Ie wife is not a member of huf.
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