dear Sir, I want to know that if husband deposit 150000 in wife's PPF Account than husband.will.claim exemption under section 80-c ? PPF account opened in the name of Wife's and she had deposited amount last 6 years by own income, she is also.a.working woman.
Husband wants to deposit 150000 annually and take 80-c exemption from.income tax.
thanks & regards
D.K. Sharma
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PPF DEPOSIT EXEMPTION
Replies (9)
Quick Summary
Yes. Deduction can be claimed by husband.
Thanks sir
Deduction can be claimed by husband
Why does husband want to claim PPF deduction by depositing in wife PPF account?.
As you said that wife is also working, she should contribute to her own PPF and take deduction.
She is don't have liable to pay incom tax that's why husband wants to take exemption.
Yes, husband can claim if deposited out of his income. as you are saying husband wants to take deduction benefit he can also open account on his name(just saying). there may be other reasons due to which account will be opened on wife's name.
What's exactly conculation, husband will take or have any objections ? rest other thinks are personally. I don't want to ask him.
Yes sharma ji, he is eligible for deduction.
Thanks to all of you.
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