PPF
This query is : Resolved
CA BIREN SHAH
(Querist)
28 May 2010
hello sir,
whether husband can pay PPF of his wife from his bank account.
whether husband can pay PPF of his wife from his bank account.
daya shankar singh
(Expert)
28 May 2010
husband can pay the PPF amount for his wife but the clubbing provision of section 64(1)(iv)get attracted
CMA.Palani Arumugam
(Expert)
28 May 2010
One can get the deduction u/s 80c, deposit in his own account, or his/her spouse or in the account of his /her children.
CA BIREN SHAH
(Querist)
28 May 2010
if husband pays of his wife than who will get deduction u/s 80C?
n how clubbing provision will be applicable?
n how clubbing provision will be applicable?
CA BIREN SHAH
(Querist)
28 May 2010
how clubbing will be attract?
daya shankar singh
(Expert)
28 May 2010
the clubbing provision will be attracted,when there is any income arise from PPF deposit and the assessee is able to get the deduction u/s 80C of deposit on PPF in his wife name
daya shankar singh
(Expert)
28 May 2010
the clubbing provision will be attracted,when there is any income arise from PPF deposit and the assessee is able to get the deduction u/s 80C of deposit on PPF in his wife name
28 May 2010
Income arises from PPF account is already exempt from Tax.
Hence no clubbing .
Husband can get the deduction u/s 80 C of deposit on PPF in his wife name, but he got total exemption of Rs.70000/ whether he has depsoited Rs.70000 for himself also.
Hence no clubbing .
Husband can get the deduction u/s 80 C of deposit on PPF in his wife name, but he got total exemption of Rs.70000/ whether he has depsoited Rs.70000 for himself also.
daya shankar singh
(Expert)
28 May 2010
whether income arising from exempt income is exempt ?
28 May 2010
NO, IF YOU HAVE INVEST SUCH EXEMPTED MONEY IN ANY BUSINESS OR ANY OTHER SOURCE THEN IT WILL BE TAXABLE.
28 May 2010
AGREE WITH CA. B K BANSAL
CA BIREN SHAH
(Querist)
07 July 2010
whether wife can claim deduction u/s 80c if husband doesnt want to claim?
07 July 2010
Yes, She can claim .
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