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This query is : Resolved
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.
15 October 2011
He can claim LTC exemption for his parents, but he can not claim for his son, son's wife & married daughter.
15 October 2011
EXCALLENT PARSHANT SIR GUD ANSWER,.,,,BECAUSE SON & SON'S WIFE NOT COVERED IN THE FAMILY DEFINATION
16 October 2011
Yes, as per IT Act, son is covered only if he is not dependent & not attended the Age of 21 yrs.
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
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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