10 August 2011
Hello CA's and Experts I am Sanjay. The LIC is in the name of Karta of HUF and the payment is done through HUF and the deduction is availed u/s 80C. The said dseduction is allowable or not. Kindly advise. 2.The payment of one of the member(minor) of HUF is deposited in PPF account through HUF account can be shown as deduction u/s 80C limited to Rs70000/-. Is am right or wrong. I am confused. Kindly advise on two points. thanks and regards sanjay