If Insurance premium of wife is paid by husband, then can wife claim deduction in her return by showing loan from husband and repaying the amount afterwards? What is the actual meaning of " any sums paid or deposited in the previous year by the assessee" means it must be paid by the assessee from his bank account?
In this case wife can not take benifit U/s Section 80C. Because Husband have paid the Insurance Premium from him account.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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