Deduction u/s 80 c lic
This query is : Resolved
02 February 2013
Husband Paid Rs.2 lac his own LIC premium from his own account but Wife Paid only Rs. 10000
Than in Husband Return Deduction is Allowed only Rs. 1 lac as per 80 C
And in Wife Return Deduction is Allowed only Rs. 10000 as per 80 C
But can I take Balance Rs. 1 lac of Husband's LIC in Wife return as Deduction u/s 80 C and claim benefit by Showing Loan in his Balance Sheet
And Claim Rs. 1 lac in each returns as benefit u/s 80 C
Than in Husband Return Deduction is Allowed only Rs. 1 lac as per 80 C
And in Wife Return Deduction is Allowed only Rs. 10000 as per 80 C
But can I take Balance Rs. 1 lac of Husband's LIC in Wife return as Deduction u/s 80 C and claim benefit by Showing Loan in his Balance Sheet
And Claim Rs. 1 lac in each returns as benefit u/s 80 C
02 February 2013
In case of LIC Premium, payments it is not advisable. It's up to the risk bearing capacity of the assessee.
.
.
02 February 2013
wife can take or not the lic deduction ?
02 February 2013
Normally wife can claim 80c deduction upto rs 1 lakh.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
