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Lic deduction

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(Querist)
26 October 2013 husband has a lic policy in his name and he paid rs 2lakh premium....can wife cliam 1lakh out of it....both are assessee under it act...
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 October 2013 NO only the assessee - here it is husband who have paid from his gross total income can claim and not wife under existing income tax act.
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Ganeshbabu K

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Ganeshbabu K (Expert)
26 October 2013 policy should be in the name of assesse
.
.
to take deduction under 80C
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