Deduction under section 80 C

This query is : Resolved

joshy k.g. (Querist)
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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

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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26 July 2008 yes but payment's are made from his a/c

CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)
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26 July 2008 yes

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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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

visu iyer

visu iyer (Expert)
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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..

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