80ccc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2013
My father is contributing towards LIC annual annuity plan (New Jeevan Suraksha Plan-I) which is in my name. Could my father is entitled for rebate u/s 80CCC of the IT Act for this payment from his income?
06 May 2013
1) father is not enttiled to the deduction since amount paid is not credited in father's a/c by the insurer.
2) son will not get deduction since money is not paid out of son's income.
2) son will not get deduction since money is not paid out of son's income.
07 May 2013
Yes Your father is entitled for deduction
07 May 2013
I am of the view that the father will get the deduction u/s 80CCC since the amount is paid out of his income.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 May 2013
There are two different views to the query. Could I seek some more expert views to solve the query please?
11 May 2013
I am sure that the observations of Mr. Arora and Mr.Anand needs absolute reconsideration.
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