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10823 Points
Posted on 07 December 2009
| Originally posted by :Debashis Mandal |
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Respected All Friends,
Say husbend & wife both r salaried or professional & they r paying their childrens school education fees & also they r having loan account running between them, then if one persons limit U/S - 80C completed by Rs.100000 then any payment made by such one person for childrens school fees can be adjusted as loan to or loan repayment of other one, simply as because such person will not be benifited by paying such extra amount, but other will be benifited if that persons limit of Rs.100000 has not been elapsed.
Thanks
Debashis
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As such, the case u mentioned, here CLUBBING OF INCOME do comes in between... Either its the wife or the husband, whose income will be considered for deduction of such expenses....
I mean, though both of them are paying together the amount, but deduction is not bound in any ratio.. If husbands' limit is over, wife cannot claim the remaining amount, just because she doesn't have any other thing to claim or has sufficient limit to claim the same.... It is never like that....
Its the contribution made by each of them towards the payment, and at the end, clubing of income is attracted.....