transfer of benifit U\s 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2011
if a person regularly paid premium (his spouse or child) and claim for deduction
suddenly 1 year his income is below taxable and his spouse income is taxable than his spouse pay the premium on his account can his spouse avail the benefit of deduction. my doubt is can avilment of deduction is transferable for benefit.
if a person regularly paid premium (his spouse or child) and claim for deduction
suddenly 1 year his income is below taxable and his spouse income is taxable than his spouse pay the premium on his account can his spouse avail the benefit of deduction. my doubt is can avilment of deduction is transferable for benefit.
12 February 2011
For tax planning purpose, under such circumstances, it is desirable to make payment using Bank Cheque of wife
If it is a joint account of both spouses, then also it is OK
If payment is made by cash, the action could be justified
If bank account is in the sole name of husband, there is scope for someone to question claim for Deduction
If it is a joint account of both spouses, then also it is OK
If payment is made by cash, the action could be justified
If bank account is in the sole name of husband, there is scope for someone to question claim for Deduction
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 February 2011
sir, Can you tell me the perfect grounds for the same any case laws any guideline for the relevant, kindly reply.
thank you.
thank you.
12 February 2011
Hi
yes it possible since the premium paid by the spouce to get the deduction.
yes it possible since the premium paid by the spouce to get the deduction.
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