Query on submisstion of investments proofs
This query is : Resolved
Mallikarjun
(Querist)
29 January 2014
Hi, Please confirm my query on submission of Investment proofs. I have invested 50,000.00 (fifty thousand rupees) as fixed deposit on my wife name. She is not employed anywhere. So can i submit this fixed deposit receipt as investment proof. If yes, do i need to submit the relationship letter also ? Thanks
AVTAR SINGH
(Expert)
29 January 2014
No. Deduction will not be allowed to you.
Mallikarjun
(Querist)
29 January 2014
Sorry, did not understand. What is it mean deduction will not be allowed to you.
My wife is dependent on me. so cannot i show the fixed deposit as investment proof ?
My wife is dependent on me. so cannot i show the fixed deposit as investment proof ?
AVTAR SINGH
(Expert)
29 January 2014
The deduction of Life Insurance Premium/PPF etc. is available if in the name of spouse/children, but not in the case of FDR. The FDR has to be in the name of assessee or at the most in joint name where the first name must be assessee's name.
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