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Exemption of investment

This query is : Resolved 
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(Querist)
27 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..)& THE AMOUNTS ARE PAID HUSBAND & WIFE ACCOUNT SEPARATELY..

IF YES UNDER WHICH SECTION ?

TAHNKING YOU...
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
27 August 2010 yES, YOU CAN CONSIDER IT IN HUSBAND EXEMPTION ONLY IF IT IS PAID THROUGH HUSBAND ACCOUNT.
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