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Sec 80c - lic premium

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(Querist)
19 July 2014 Can A(HUF) claim deduction u/s. 80c for lic premium where the policy is in the name of Mr. A & the premium is paid to LIC by Mr. A of Rs. 1,00,000/- & then the amount of 1,00,000/- is paid back in the account of Mr. A from the account of A(HUF)..??
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
19 July 2014 Huf can claim the premium paid by HUF for the insurance of karta or members of HUF. Mr A will have to claim the benefit not the HUF
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Ruchi Agarwal

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Ruchi Agarwal (Querist)
21 July 2014 but the amount is reimbursed by huf to mr. A
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
22 July 2014 HUF will have to claim. you should remember that personal agreement can not over ride the statute

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