Deductions
This query is : Resolved
11 November 2008
if the assessee invested in Mutual funds on his sun's name? Can he claim this as deduction U/s 80CCB?
S.Srinivasaraghavan
(Expert)
11 November 2008
IN the absence of specific permission under the section, it has to be in assessee's name only.
11 November 2008
The language used in the section is:-
.....assessee has acquired..........
.....he shall be allowed...........
.....in the computation of his total income..
Thus it can be seen that section is silent on the issue raised.Therefore the answer is debatable. However my personal view to the issue raised is No..No..
.....assessee has acquired..........
.....he shall be allowed...........
.....in the computation of his total income..
Thus it can be seen that section is silent on the issue raised.Therefore the answer is debatable. However my personal view to the issue raised is No..No..
Nilesh Shah
(Expert)
11 November 2008
Nilesh Shah Writes:
Cell: 92246-59941
E mail: nilesh63@vsnl.com
No deduction is allowed u/s 80CCB from A.Y 92-93 and subsequent years.
Sincerely,
Nilesh Shah
Cell: 92246-59941
E mail: nilesh63@vsnl.com
No deduction is allowed u/s 80CCB from A.Y 92-93 and subsequent years.
Sincerely,
Nilesh Shah
Ravikumar.G
(Expert)
19 November 2008
Only for individual (Self) not for spouse / children
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