Income Tax Sec 80C / 80CCC
This query is : Resolved
Anil Chavan
(Querist)
15 February 2008
Hi Sir / madam
Can I get any deduction u/s 80C or 80CCC, if I invest any amount in LIC, PPF ect. in the name of my sister? she was depends upon me before nov 2007 & I invested before nov 2007. Can I get deduction or Not?
Thanks
Anil
Can I get any deduction u/s 80C or 80CCC, if I invest any amount in LIC, PPF ect. in the name of my sister? she was depends upon me before nov 2007 & I invested before nov 2007. Can I get deduction or Not?
Thanks
Anil
Madhusudhan BS
(Expert)
15 February 2008
you can claim the deduction if at the time of the investment you sister was dependent.
15 February 2008
As per my Knowledge, deduction can be availed only if policy is taken with his own name, with his wife name or any child( dependent/independent, male/female, minor/major, or married/unmarried).
In case of HUF, policy taken with the name of any member of the family.
In case of HUF, Karta can get deduction.
I don't find any clause about dependency.
According to me u can't get deduction.
In case of HUF, policy taken with the name of any member of the family.
In case of HUF, Karta can get deduction.
I don't find any clause about dependency.
According to me u can't get deduction.
Anil Chavan
(Querist)
15 February 2008
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