Vineet (MBA) (40 Points)
24 November 2015Hello.
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
CA Goutam Sharma
(Chartered Accountant in Practice)
(468 Points)
Replied 25 November 2015
Yes, you can do so.
AnandKumar
(Chartered Accountant)
(203 Points)
Replied 26 November 2015
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
CAclubindia
