Can LIC Premium paid by all members of HUF be claimed as deduction u/s 80C for HUF Tax purpose?
80c deduction
SVSHAH (CA Final) (122 Points)
20 September 2011
10 Replies
VIJAYKUMAR
(CHARTERED ACCOUNTANT)
(203 Points)
Replied 20 September 2011
Yes if it is not claimed in their Individual Income Tax Return.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 20 September 2011
Agree with above....
Deduction u/s 80C,can claim be individual\HUF....
PAYMENT OF LIC PEMIUM IS COVERED....
CS Bijoy
(Expert)
(6394 Points)
Replied 21 September 2011
Yes it can be claimed, but payment must be made by the HUF not by the individual from their pocket.....
please correct if wrong...
nupur
(employee)
(112 Points)
Replied 21 September 2011
Yes the deduction can be claimed if paid by HUF .
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 23 September 2011
YES DEDUCTION CAN BE CLAIMED
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