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Deductions u/s 80C

This query is : Resolved 
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(Querist)
15 February 2011 My client being an Individual as General Manager in Corporate Sector has invested u/s 80C in the name of his wife the followings to avail maximum deductions of Rs.100000/-

-- LIC Premium Rs.1513/-
-- ICICI Preduntial Rs.25000/-
Life Insurance
Premium.
-- SBI Life Insurance Rs.50000/-
Premium.
-- PPF Contribution Rs.40000/-


All these investments are made out of his savings.

Now query is whether he claim the same from his taxable income for the current F.Y. or not.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
15 February 2011 Yes he can claim subject to maximum of Rs. 1 Lac. The amount should have been paid from his bank account .
Note)
1) Deduction will be available in the previous year in which investment was made.
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