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O0 c lip premim payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 March 2012 lip premium paid by partner for his life from the firm by following entry in firm accounts.


partner capital ac dr.
to firm 's bank ac


can he claim deduction in 80 c in his personal account?
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Guest (Expert)
06 March 2012 The deduction in the above case can be claimed by partner u/s 80C.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 March 2012 please explain in detail
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