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My father transfers the insurance premium amount in my bank a/c, policy is in my name, payment is deducted from my banka/c. Now can i file return and claim it u/s 80C or my father should claim it?
Replies (5)
Quick Summary
Yes you can claim deduction u/s 80C
You can claim your 80C DEDUCTION
You are eligible for deduction. and amount given by your father is exempt as your father covers under relative as per income tax act.
Here both are eligible to take.
find out in whose tax return is it more beneficial to claim and then claim in his return
find out in whose tax return is it more beneficial to claim and then claim in his return
Both of you are eligible for benefit as mentioned by veer.
claim deduction on the basis of who will get more tax savings.
claim deduction on the basis of who will get more tax savings.
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