Claiming deduction u/s 80 c
This query is : Resolved
26 January 2016
A PERSON HAVE CREATED A TRUST IN NAME OF HIS GRAND DAUGHTER. HE HAS BEEN ALLOTED PAN NUMBER IN INDIVIDUAL CATEGORY.AS TRUST INCOME IS MORE THAN 500000.NOW HE WANT TO OPEN PPF ACCOUNT IN NAME OF HIS GRAND DAUGHTER.HE WANT TO INVEST RS.150000 BY DEBITING SAID TRUST ACCOUNT.WILL HE GET DEDUCTION OF RS.150000 UNDER 80 C ?
27 January 2016
Investing in Daughters Name will not get deduction under 80C. More over trust Status is different so pan number should be obtained in the trust name. you have to create Trust Deed and same to be registered in Sub register office.with the deed you have to apply PAN number.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- TDS related Query_Liquidated Damages
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
