Hi,
Does the amount declared for investment include the amount invested in the name of the dependant child?For instance, a person can invest upto Rs 1 lakh. So can he invest another Rs 1 lakh in the name of the dependant child and claim the same. Hence, can he claim Rs.2 lakh of invested amount.
| Originally posted by :Vinita | ||
| " | Hi, Does the amount declared for investment include the amount invested in the name of the dependant child?For instance, a person can invest upto Rs 1 lakh. So can he invest another Rs 1 lakh in the name of the dependant child and claim the same. Hence, can he claim Rs.2 lakh of invested amount. |
" |
Rs. 1 lac includes himself, child & spouse. More than one lac cannot be claimed.
CAclubindia
