Life insurance premium
This query is : Resolved
03 August 2012
ONE OF MY CLIENT HAS INVESTED RS.1,18,000.00 AS LIC PREMIUM IN A FINANCIAL YEAR.MY QUERY IS WHETHER HE CAN CLAIM RS.1,00,000.00 AS 80C DEDUCTION AND BALANCE AMOUNT IN HIS WIFE'S NAME OR HE IS ONLY ELIGIBLE FOR 80C DEDUCTION UPTO RS.1,00.000.00 AND BALANCE AMOUNT HAS NO FURTHER SIGNIFICANCE.
PLEASE HELP ME IN THIS REGARDS.
PLEASE HELP ME IN THIS REGARDS.
03 August 2012
if the policy is in the names of both (Joint holders), both can claim equally, otherwise it should be restricted to 1.00 lakh as a 80C deduction.
02 September 2013
Agreed with expert...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
