EXCEMPTION OF INVESTMENT
This query is : Resolved
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...
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...
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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