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Deduction u/s 80C eligibility

Vipul Acharya (Account Officer) (647 Points)

30 April 2022

Deduction u/s 80C eligibility if I have made payments through my non working Wife's Bank Account or her credit card

for some Tution Fee, Home Loan EMI and LIC payment

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13 Replies

CA Aakarsh Jain (CA) (10431 Points)
Replied 30 April 2022

Yes it is eligible

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Vipul Acharya (Account Officer) (647 Points)
Replied 30 April 2022

But Sir as per our Statutory Auditor, deduction only allowed when payment made through bank accounts of person availing exemption

CA Aakarsh Jain (CA) (10431 Points)
Replied 30 April 2022

In case of LIC it is not available but in case of others it is eligible

Vipul Acharya (Account Officer) (647 Points)
Replied 30 April 2022

Any rule or notification on exclusion of LIC, kindly share

Our Stat Auditor given opinion specifically on deduction of Tution Fee

JJJ (Need help) (675 Points)
Replied 30 April 2022

Originally posted by : Vipul Acharya
	But Sir as per our Statutory Auditor, deduction only allowed when payment made through bank accounts of person availing exemption

That's a garbage opinion.

For tax saving investments, it's the holder of the investment / asset who can (and should) claim the deduction.

When it comes to tuition, I'm not so sure. One could consider it to be an expense rather than an investment, so there might be a point related to who actually incurred the expense.

That said, there are very simple ways to get around that: simply enter all those as your expenses and since your wife paid on your behalf, put down the entire amount as a loan you took from her.