Clubbing provision
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2016
Dear Experts
I am salaried person & have been filling my Income tax return but my spouse is house wife she is not having any income hence she is not filing her income tax return however i have made the FDR of 5 Lakh in the name of my wife also i have taken the LIC policy in the name of my wife so in this scenario whose income will be by way of interest received from FDR weather my income or my wife income,
Also clarify can i avail the deduction of premium paid In LIC by me however the policy is in the name of my wife,
Thanks & Regards
Ankur Gupta
I am salaried person & have been filling my Income tax return but my spouse is house wife she is not having any income hence she is not filing her income tax return however i have made the FDR of 5 Lakh in the name of my wife also i have taken the LIC policy in the name of my wife so in this scenario whose income will be by way of interest received from FDR weather my income or my wife income,
Also clarify can i avail the deduction of premium paid In LIC by me however the policy is in the name of my wife,
Thanks & Regards
Ankur Gupta
16 November 2016
Interest income of FDR will be clubbed with your income. You can claim deduction for LIC premium payment in the name of wife.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Free lancer income
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- Long Term Service award taxability in hands of company
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- 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
