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80c deduction

08 July 2018

If the LIC premium paid by husband in the name of wife. Can his wife claim for deduction. And in t receipt they mentioned amount received from as husband name and policy holder as wife name. Pls suggest

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170790 Points)
Replied 08 July 2018

No, wife cannot claim deduction when the receipt states that the payment made by husband....

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Navaneetha Krishnan G (43 Points)
Replied 08 July 2018

can we claim in t below cases.

1. amount has been transferred to his husband account and he paid on behalf of her.

2. cash has been handed over by wife to her husband for paying premium.

pls suggest

NILESH PADIA (PROPRIETOR) (19 Points)
Replied 09 July 2018

yes navaneetha, it is allowed, under this section, insurance premium paid for spouse and children are allowed irrespective of payer from either, bcoz continuous payment of insurance premium to keep the regular and active policy is necessary in terms of social safwty and risk coverage. however, the policy premium claim shall be claimed in single assessee till the policy is matured. one can not jump to claim at his/her lateral wish viz. few year deductio claimed by husband and for few years it is claimed in her wife when husbnad's income is lower and wife's income is under upper slab of tax.

payment of family laibility and cost of living, who is paying from husband or wife are least concerned, bcos its social and moral responsibility too.

in ur case husband can pay insurance premium, subject to it is paid and claimed by wife since beginning of the policy. even no need to justify and prove that wife has paid in cash to her husband.

Navaneetha Krishnan G (43 Points)
Replied 09 July 2018

nilesh, shall we have much more clarity on this. you said that the single assessee has to claim for deduction till the maturity. in this if wife doesn't have any income during the tenure of policy maturity (say 6 months) then her husband paying a premium, for such period of time can husband claim for deduction.