80C deductions
This query is : Resolved
K V RAMA MOHAN RAO
(Querist)
18 December 2008
NSC prurchased in the name of spouse or minor daughter can be included under 80c deductions or not ?
18 December 2008
No, deduction can not be claimed for investment in NSCs in the name of spouse. Pl refer sub-section 4 of section 80C.
K V RAMA MOHAN RAO
(Querist)
18 December 2008
Is such provision restrited to LIC schemes only
18 December 2008
As per sub section 4 the investment in the name of spouse or chldren is elegible for deduction in the following cases:
PPF
LIC
LIC Mutual Fund
Tuition Fee (For 2 children)
PPF
LIC
LIC Mutual Fund
Tuition Fee (For 2 children)
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