Deduction u/s 80 d

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2014 company has paid Mediclaim Insurance premium of director from company bank account.

Can director claim Deduction U/s 80D while filing his Income tax return, as premium paid certificate is in the name of director.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 July 2014 the ans is no as its paid by co and not the director himself.

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Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2014 agree with you, as sec 80D clearly say premium should be paid out of taxable income...
but can we claim deduction on the basis of premium paid receipt, as its in the name of Director...

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 July 2014 but since the co who has actually paid its a perquisite to director and its very debateable on this issue but if u want can take a risk and file it if the ao doesnt checks who actually have paid then its favouring u else he may argue wat i replied above

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Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2014 okay...
Thanks a ton....

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2014 okay...
Thanks a ton....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 July 2014 you are welcome jyoti....................