Deduction of 80c

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lalit kumar sain (Querist)
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14 June 2012 sir /madam

i am an assesse so i take deduction 80 c (lic)of me & my childern in ay 2010-2011.

my wife too an assesee so she take deduction 80 c (lic) on her life in ay 2010-2011

sir can my wife take dudction 80c (lic) me & her some part (80000/- of me prem & 45000/- fe prem) in ay 2011-2012

in ay 2011-2012 i & my wife assesee

is this rule that which is more income deduction his income of lic 80c

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 June 2012 Normally deduction is allowed to the person who makes the payment.

However, as tax management you can claim deduction in the return of the person which is more beneficial.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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14 June 2012 agree, claim it for whom you can get more benefit rather than other

you can also planning for payment in advance instead of while filing return

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