Deduction u/s 80 c lic
This query is : Resolved
02 February 2013
Husband Paid Rs.2 lac his own LIC premium from his own account but Wife Paid only Rs. 10000
Than in Husband Return Deduction is Allowed only Rs. 1 lac as per 80 C
And in Wife Return Deduction is Allowed only Rs. 10000 as per 80 C
But can I take Balance Rs. 1 lac of Husband's LIC in Wife return as Deduction u/s 80 C and claim benefit by Showing Loan in his Balance Sheet
And Claim Rs. 1 lac in each returns as benefit u/s 80 C
Than in Husband Return Deduction is Allowed only Rs. 1 lac as per 80 C
And in Wife Return Deduction is Allowed only Rs. 10000 as per 80 C
But can I take Balance Rs. 1 lac of Husband's LIC in Wife return as Deduction u/s 80 C and claim benefit by Showing Loan in his Balance Sheet
And Claim Rs. 1 lac in each returns as benefit u/s 80 C
02 February 2013
In case of LIC Premium, payments it is not advisable. It's up to the risk bearing capacity of the assessee.
.
.
02 February 2013
wife can take or not the lic deduction ?
02 February 2013
Normally wife can claim 80c deduction upto rs 1 lakh.
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
- Reopen of assessment proceeding
- Is any professional CA is here please reply
- EPF FULL & FINAL RULES IN 2026
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Fixe term employment
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
