Income Tax Sec 80C / 80CCC

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Anil Chavan (Querist)
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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

Madhusudhan BS

Madhusudhan BS (Expert)
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15 February 2008 you can claim the deduction if at the time of the investment you sister was dependent.

Garima

Garima (Expert)
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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.

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Anil Chavan

Anil Chavan (Querist)
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15 February 2008 Thanks for Reply