80c deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 November 2018
If husband has paid LIC premiun of wife then can wife get its deduction as she policy is of her name.
According to me 80C is available to the person who had made payment (within 'family' definiation of Income Tax Act) irrespective of policy holder.But I got to know that if policy is of wife's name then wife can get deduction evenif payment was made by husband.
Need clarification! Kindly help!
According to me 80C is available to the person who had made payment (within 'family' definiation of Income Tax Act) irrespective of policy holder.But I got to know that if policy is of wife's name then wife can get deduction evenif payment was made by husband.
Need clarification! Kindly help!
24 November 2018
just for the sake of simplicity, let the wife make a payment to her husband for an equivalent amount and claim 80C deduction ie establish act husband paid on her behalf.
24 November 2018
YES , wife can taken deduction......but then husband can not.....anyone of them can take
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Querist : Anonymous
Querist :
Anonymous
(Querist)
27 November 2018
Thanks to both of you
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