Query on submisstion of investments proofs

This query is : Resolved

Mallikarjun (Querist)
Follow

29 January 2014 Hi, Please confirm my query on submission of Investment proofs. I have invested 50,000.00 (fifty thousand rupees) as fixed deposit on my wife name. She is not employed anywhere. So can i submit this fixed deposit receipt as investment proof. If yes, do i need to submit the relationship letter also ? Thanks

AVTAR SINGH

AVTAR SINGH (Expert)
Follow

29 January 2014 No. Deduction will not be allowed to you.

Mallikarjun

Mallikarjun (Querist)
Follow

29 January 2014 Sorry, did not understand. What is it mean deduction will not be allowed to you.

My wife is dependent on me. so cannot i show the fixed deposit as investment proof ?

Upgrade to CAclubindia Pro. Subscribe Now!

AVTAR SINGH

AVTAR SINGH (Expert)
Follow

29 January 2014 The deduction of Life Insurance Premium/PPF etc. is available if in the name of spouse/children, but not in the case of FDR. The FDR has to be in the name of assessee or at the most in joint name where the first name must be assessee's name.