Income TAx
This query is : Resolved
28 July 2010
My husband and myself are working for the same private limited company. My CTC structure is not near to the tax slab being women, but my husband's is very near. We both get Form 16. I wanted to know whether my husband can show the Life Insurance in my name under his section 80C or is it not possible?
28 July 2010
No. Any amount that you pay towards life insurance premium for yourself, your spouse or your children can be included in section 80C deduction. LIC premium deduction is available u/s 80C to individual making the payment.
28 July 2010
If the premium is paid in cash, this can be included in your husband's 80C. In case of other mode of payments, only person making the payment can get the benefit.
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