Pradyumna (.) (29 Points)
29 January 2023Can individual claim deduction under sec 80ccc if investment made by spouse amount lumlsum of 5lakh and getting pension monthly.
In above amount was individual invested in name of spouse and invested in LIC varista vima yojana and both having joint account
Above pension getting ing monthly is clubbed in hands of individual and can individual claim deduction on lumpsum amount of investment??
Ayush
(Executive )
(6755 Points)
Replied 30 January 2023
Yes, you can claim deduction.
The primary condition for claiming the deduction under Section 80CCC is that the investment must be made in a pension policy which provides a regular pension or annuity income.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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