lic deductions
This query is : Resolved
11 October 2008
payment of lip has been made from the bank of assesse, but the policy was in name of his wife, so can we calim this lip as deduction in her wife. Actually payment was made from the assesse's account, so is payment condition necessary for claiming the deduction.
11 October 2008
Yes, deduction is allowable
11 October 2008
Self, Spouse, Child
11 October 2008
payment made towards policies in the name of self , child and spouse is acceptable for deduction
12 October 2008
yes its allowed provided you have made the p;ayment towards Self, Spouse, Child
14 October 2008
I think the query is:- Wife's LIP has been paid by Husband. Whether wife can claim deduction u/s. 80C?
If this is the question, reply seems to be in NO, unless and otherwise it can be established thatwife has reimbursed/ repaid the amount to the Husband in same year.
If this is the question, reply seems to be in NO, unless and otherwise it can be established thatwife has reimbursed/ repaid the amount to the Husband in same year.
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