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Aadish Jain (Querist)
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14 October 2011 if a person is president in a ltd. company n he want to claim LTC than can he claim LTC in respect of married son not dependent on him n in respect of son's wife. Can the asseseee claim LTC in respect of his parents dependents on him. n can he claim LTC also in respect of his married daughter.

CA Prashant Shrivastava

CA Prashant Shrivastava (Expert)
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15 October 2011 He can claim LTC exemption for his parents, but he can not claim for his son, son's wife & married daughter.

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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15 October 2011 EXCALLENT PARSHANT SIR GUD ANSWER,.,,,BECAUSE SON & SON'S WIFE NOT COVERED IN THE FAMILY DEFINATION

CA Prashant Shrivastava

CA Prashant Shrivastava (Expert)
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16 October 2011 Yes, as per IT Act, son is covered only if he is not dependent & not attended the Age of 21 yrs.

Aadish Jain

Aadish Jain (Querist)
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18 October 2011 Sir i think son should be covered only if he is dependent and aged below 21 years. am i right.
n what about the situation when the assesseee declared that his son is dependent on him though he is above 21 than what is the impact

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