EXCEMPTION OF INVESTMENT

This query is : Resolved

SIDDAROODHA HIREMATH (Querist)
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30 August 2010 RESPECTED SIR...

THE HUSBAND & WIFE BOTH HAS A PAN NO & BOTH ARE FILLING THE IT RETURNS IN THEIR OWN CAPACITY..

THE HUSBAND HAS INCOME NEAR ABOUT 5,00,000/ &HE MADE INVESTMENT ABOUT 50,000/-IN (80C DEDN). WIFE HAS A INCOME ABOUT 1,50,000/- & INVESTED ABOUT 35,000/-IN (80C DEDN)

SO MY QUERY IS THAT INVESTMENT MADE BY WIFE CAN BE CONSIDERED IN HUSBAND INVESTMENT WHILE CALCULATING THE INCOME TAX.(BECAUSE WIFE HAS INCOME WHICH IS BELOW TAXABLE LIMIT.& SHE IS NOT CLAIMING THE INVESTMENT..) & AMOUNTS ARE PAID THROUGH HUSBAND & WIFE ACCOUNT SEPARATELY.

IF YES UNDER WHICH SECTION ?

TAHNKING YOU...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 August 2010 Under 80C section: Only Insurance premiums paid by husband for wife vice versa can be considered, othet investment will be their name. so If wife`s Investment having Insurance preimum that can only considered

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