Deduction under 80C
This query is : Resolved
25 April 2008
Amount deposited in a Fixed deposit for 5 year or more is deductible under section 80C.
But if the FD is the assesse’s name and payment is being made by another person suppose his spouse or parent, whether this amount would be deductible or not under section 80C.
(2). If FD is in continuance from A/Y 2006-07 for 5 year or more and now we want to renew that FD with more amount whether it would be deductible or not.
Regds/-
Anil Jain
But if the FD is the assesse’s name and payment is being made by another person suppose his spouse or parent, whether this amount would be deductible or not under section 80C.
(2). If FD is in continuance from A/Y 2006-07 for 5 year or more and now we want to renew that FD with more amount whether it would be deductible or not.
Regds/-
Anil Jain
25 April 2008
80C deduction is available only current years income & if you spouse is invested then it deducteible in your spousec income and if you are renew the fd in more amount then additional amount is deducteible from whose a/c amount is deposited
26 April 2008
U mean If Husband invest in the name of wife it would be deductible in the income of Husband??
U mean If Husband invest in the name of wife it would be deductible in the income of Husband??
13 January 2014
If the payment is made by another person, then this amount should not be come deduction u/s 80c
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- 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
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- 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
Trending Online Classes
CAclubindia
