transfer of benifit U\s 80c
Querist : Anonymous
if a person regularly paid premium (his spouse or child) and claim for deduction
suddenly 1 year his income is below taxable and his spouse income is taxable than his spouse pay the premium on his account can his spouse avail the benefit of deduction. my doubt is can avilment of deduction is transferable for benefit.
If it is a joint account of both spouses, then also it is OK
If payment is made by cash, the action could be justified
If bank account is in the sole name of husband, there is scope for someone to question claim for Deduction
Querist : Anonymous
thank you.
yes it possible since the premium paid by the spouce to get the deduction.
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