URGENT QUERY

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2010 Can an assessee take the benefit of payment for LIC premium and tuition fee u/s 80C if this premium and tuition fee amt were paid out of his wife bank account.

Akhil Agrawal

Akhil Agrawal (Expert)
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08 July 2010 Yes he can take

Srikant

Srikant (Expert)
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08 July 2010 Paid out of Wife's Account does not change the Policy Holders name nor the Tution Fee Bill.

Condition is paid through A/c Payee cheque.
Satisfied ,Fine.

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chetan soni

chetan soni (Expert)
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08 July 2010 The deduction u/s 80C can be avail on payment basis. Person who has made the payment is eligible for deduction. But now in your case you can take the benefit of such deduction. But for this you need to show as such payment is then done by husband to wife by cash or chq.