80c
This query is : Resolved
02 December 2014
LIP paid by husband in name of his WIFE. Can husband claim 80c deduction??
02 December 2014
Yes. Husband can claim if it goes from his taxable income.Similarly parents can claim the LIP paid by them on their children's name, including their married daughters.
CA Kumar Mukesh
(Expert)
03 December 2014
Yes as per section 80c, deduction can be claimed by husband if it is paid in the name of self, spouse a children.
Consider the limits given under this section
Consider the limits given under this section
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