I want to know that if LIC paid by employer on behalf of employee is taxable or not in the hands of employer and also whether employer can claim expenditure for the premium paid and will employee get deduction u/s 80C.
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Lic paid by employer on behalf of employee.
Replies (3)
only employer can claim for expenditure , because employee not pay the lic amount so they have not claimed for 80c
To claim it as a deduction under 80C, actual payment by the assessee is required. Since employee has not paid by himself he cannot claim it. Employer can claim the same as a part of staff welfare expenses.
sir, the premium paid by Employer on behalf of employees is Taxable or not????
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