Income Tax Sec 80C / 80CCC

This query is : Resolved 

15 February 2008 Hi Sir / madam

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?

Thanks
Anil

15 February 2008 you can claim the deduction if at the time of the investment you sister was dependent.

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.


15 February 2008 Thanks for Reply



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