Deduction under section 80 C
This query is : Resolved
joshy k.g.
(Querist)
26 July 2008
hai
my client invests in LIC Mutual Fund for Rs. 100000/- in the name of his spouse
can the clent claim it for filing his Return of Income
my client invests in LIC Mutual Fund for Rs. 100000/- in the name of his spouse
can the clent claim it for filing his Return of Income
CA Hemant T Dewani
(Expert)
26 July 2008
yes but payment's are made from his a/c
26 July 2008
yes
26 July 2008
Yes, the idividual can invest in the ULIP of LIC M/F as the same is a notified by the central Govt. Also, refer to sub section 2(xi) and 4 of section 80C
26 July 2008
What is the status of the investor's wife..!!
If she is dependent, then assessee can claim, u/s 80C.
But in both account it can't be claimed..
Friends when making querry be clear with full information to spot the right answer
If she is dependent, then assessee can claim, u/s 80C.
But in both account it can't be claimed..
Friends when making querry be clear with full information to spot the right answer
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