Whether NSC Purchased in the name of Spouse or Minor eligible for Deduction US 80C of Income tax Act 1961.
Regards.
Ca Sanjay Baheti
CA Sanjay Baheti (PROPRIETOR) (1155 Points)
10 February 2010Whether NSC Purchased in the name of Spouse or Minor eligible for Deduction US 80C of Income tax Act 1961.
Regards.
Ca Sanjay Baheti
Amir
(Learner)
(4016 Points)
Replied 10 February 2010
Dear Sanjay Sir,
NSC purchased in the name of spouse or minor child can be claimed u/s 80 C
The deduction under section 80C can be claimed by the person who has contributed the monies out of his income chargeable to tax. - Circular No. 405
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