Sir/Madam,
If payment or Premium in respect of Life insurance policy is made through Husband's Bank account and total premium in F.Y is Rs.210000 so He can claim deduction upto 150000 in his return.
Then whether his wife can claim deduction of excess of 150000 i.e Rs.60000 premium in her ITR?
Menu
Deduction u/s 80C
Replies (2)
If that bank a/c is a joint account of husband and wife, in that case it may be claimed in her return. But if the husband is the single holder then she should not claim this deduction.
deduction under 80 c is only upto 150000
Recent Threads
- Wrong Place of supply mentioned by supplier on inv
- Itr for presumptive taxation and foreign asset
- BOE not reflacting on IDPMS
- TDS On Property - Income Tax Notice
- High Value Transaction - FY 24-25
- ITR e-verified but not under processing for 5 mont
- Loan from NRI to OCI card holder
- Buy back of capital goods
- Foreign professional income.
- RCM Paid by NBFC
Related Threads
CAclubindia
