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Nsc claim in huf account in 80 c

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 November 2011
Dear Sir,
If NSC is purchased in the name of the member of a HUF. Whether deduction u/s.80C can be claimed in the HUF account and the payment of the NSC is made from the saving account of the HUF.
PL CLARIFY WITH DETAILS
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 November 2011 HUF cannot take deductions for NSC investments of the member even paid from HUF bank account also
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Prof. Bajaj

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Prof. Bajaj (Expert)
07 March 2012 For availing tax benefit u/s 80C, the investment needs to be made in name of HUF through Karta. Only then you can claim tax deduction.
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