09 September 2016
I am a father & guardian for my daughters Sukanya Samriddhi account (SSA). My 80C limit gets exhausted through EPF, so I am unable to claim exemption for deposits in SSA.
My query is, if cash is deposited in SSA, then can the mother claim the 80C exemption (despite father being an guardian) ?
Note that 80C says that one who deposits the amount can claim exemption. So if a cash is deposited and if we say that the cash deposited was from mothers earning, will this be a safe way to claim exemption for mother.
09 September 2016
Yes You can take exemption under section 80C by showing the contribution is from mothers income.
Thanks.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
09 September 2016
Dear CA Sagar,
Mothers employer is not accepting the tax proof submission as her name is no where in the passbook(father is the guardian). Can you please provide some case laws or some literature for reference which I can refer.
12 September 2016
But You can claim the same in ITR. Further, You can also say that account is open by my name because all banking operations of the family is handled by me but the investment in same is from my wife's income assuming you are deposited the money by cash. Thanks.
CAclubindia
