Can I get any deduction u/s 80C or 80CCC, if I invest any amount in LIC, PPF ect. in the name of my sister? she was depends upon me before nov 2007 & I invested before nov 2007. Can I get deduction or Not?
15 February 2008
As per my Knowledge, deduction can be availed only if policy is taken with his own name, with his wife name or any child( dependent/independent, male/female, minor/major, or married/unmarried). In case of HUF, policy taken with the name of any member of the family.
In case of HUF, Karta can get deduction.
I don't find any clause about dependency. According to me u can't get deduction.