02 August 2010
Whether an individual can take the Deduction of premium paid on his spouse or his children's even though the Return of Spouse & children's is filing...but the deduction individual want to take instead of spouse & children..
02 August 2010
Yes, he can take deductin of LIC Of spouse and children, if he paid premium from his account even if spouse and children are filing return seprately.
02 August 2010
Deduction can be availed u/s 80C if the premium is paid by the assessee on the life of spouse or child even though spouse and children are filing returns separately.
But is it necessary that amount of premium paid by an individual for spouse is to be paid through account of indiviual only or it can paid through spouse account...
But is it necessary that amount of premium paid by an individual for spouse is to be paid through account of indiviual only or it can paid through spouse account...
02 August 2010
Benefit will be available to individual from whose account payment is made. So if paid by wife's account husband can not claim deduction u/s 80C and vice versa.
CAclubindia
