Insurance premium payment from huf account

Tax queries 925 views 2 replies
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MBA
40 Points Joined September 2013

Hello. 

I am the karta of my HUF. I have to make the payment of my insurance premium and the policy is in my individual name.However,  I wish to make the premium payment from my HUF account. If I do so can i claim the deduction in my HUF returns for the premium payment under 80C?

Kindly Reply. 

Thanks in anticipation 

 

 

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On 24 November 2015 at 22:49 Report
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Chartered Accountant in Practice
468 Points Joined June 2011

Yes, you can do so.

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On 25 November 2015 at 12:50
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Chartered Accountant
203 Points Joined June 2009

In my view you can make payment from HUF's Account. however the amount paid by HUF is treated as Loan given to you. which you have to repay

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On 26 November 2015 at 12:37

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