1. Our company is contributed LIC Premium Rs.15,000/- to an employee and Debited 75% of Rs. 11,250/- to his Salary Account & Debited Rs. 3,750/0 to his Advance Account & recovered from monthly salary.
Please advise that whether he can avail Rs. 15,000/- under 80C in his tax filing. LIC Policy is in Employee name.
2. Our Company is contributed Rs. 9000/- to an employee for Medical Insurance and Accounted in Employee Insurance (Expense) Account.
Please advise that whether he can avail Rs. 9,000/- under 80C in his tax in his tax filing. Oriental Policy is in Employee name.