Can i claim lic premium amount that is paid by my company
This query is : Open
19 March 2016
Can i claim LIP premium amount that is paid by my company on behalf of me by regularly ?
20 March 2016
Yes. If Premium is paid by deduction from salary or it should be part of perquisite and same is paid on behalf of you.
20 March 2016
Yes. If Premium is paid by deduction from salary or it should be part of perquisite and same is paid on behalf of you.
20 March 2016
sir it's not deducted in salary.that policy premium is rs 2500 paid by copany remains only deducted in salary it's very less amount so can I claim that lip premium
20 March 2016
What is the nature of Policy? Is it group insurance policy? If yes then there is no deduction available to you.
20 March 2016
no its an individual policy
20 March 2016
no its an individual policy
20 March 2016
no its an individual policy
20 March 2016
Anything paid by company amounts to perquisite, first you have to add to salary, than same can be claimed has deduction.
20 March 2016
You can claim it as deduction u/s 80C. If the amount is not deducted from your salary then the amount so paid by the company will be taxable in your hand as perquisite.
21 March 2016
thank you sanjay guptha
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
