Eligible for deduction u/s 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 March 2013
Dear All,
Please suggest that if a individual invest Rs. 30000.00 in FDR for Five year in his wife name with scheduled bank under income tax scheme is eligible for deduction u/s 80C.
Regards,
Sunil Paree
Please suggest that if a individual invest Rs. 30000.00 in FDR for Five year in his wife name with scheduled bank under income tax scheme is eligible for deduction u/s 80C.
Regards,
Sunil Paree
29 March 2013
As per my understanding he will not be eligible. Better make the FD in Joint name. In this case first holder will get the deduction.
For the detailed scheme see notification from below link--
https://law.incometaxindia.gov.in/Directtaxlaws/act2005/%5B2006%5D154Taxman0184(St).htm
For the detailed scheme see notification from below link--
https://law.incometaxindia.gov.in/Directtaxlaws/act2005/%5B2006%5D154Taxman0184(St).htm
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