INCOME ARISING FROM GIFT
This query is : Resolved
Quick Summary
14 July 2022
My client deposit cash and transfer money to his wife's bank account invested money in MF and pays LIC from there. is bank interest, and profit/loss from MF need to be clubbed with the income of the husband or treated as income of his wife?
14 July 2022
It will be clubbed with Husband's income.
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14 July 2022
is LIC paid from the wife's bank account, eligible for 80c in husband ITR ?
14 July 2022
Yes, provided you get the receipt in your name.
14 July 2022
If Receipt is the name of his wife, then?
14 July 2022
Husband won't get deduction u/s. 80C of the act.
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