Investment made by spouse in LIC varista vima yojana under 80ccc

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Can  individual claim deduction under sec 80ccc if investment made by spouse amount  lumlsum of 5lakh and getting pension monthly.

In above amount was individual invested in name of spouse and invested  in LIC varista vima yojana and both having joint account 

Above pension getting ing monthly is clubbed in hands of individual and can individual claim deduction on lumpsum amount of investment??

 

 

Replies (1)

Yes, you can claim deduction.

The primary condition for claiming the deduction under Section 80CCC is that the investment must be made in a pension policy which provides a regular pension or annuity income.

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