Hi friends,
Kindly help me to solve this problem,
An assesse already utilised Rs. 1Lakh under 80C. Can his spouce utilize his excess LIC policy under 80C....?
santhosh kumar
(article student)
(84 Points)
Replied 19 January 2012
For the same LIC premium spouse cannot claim the deduction.But arrangement should be made in such a way that the items falling under 80c deductions shall be shared by both of them.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 19 January 2012
80C decuctions are available on actual payment basis,
if spouse has paid the LIC premiums of husband from her own bank account then she can claim it, otherwise not.
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