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Tax management

UNNATI BHOJAK (chartered accountant) (162 Points)

23 July 2011

hello all,

can a married woman claim exemption for investment in the name of HER parents ?? under which section such exemptions or deductions avalible to her......?? can a woman claim investment of her inlaws....?? (marraige sustains..)

thank u in advance

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8 Replies

CA Bhavik Dave (AM-Finance & A/c) (68 Points)
Replied 23 July 2011

Can u pl. explain the same in more details

UNNATI BHOJAK (chartered accountant) (162 Points)
Replied 23 July 2011

e.g. if a married woman pay mediclaim policy of her parents then can she claim such deduction under section 80D??

as the u/s 80D parents need not to be dependent ...

so what are the other sections when such benefit is there???

i hope now my question is clear

CMA Ramesh Krishnan (Cost & Management Accountant) (71464 Points)
Replied 23 July 2011

Section 80C allows the investment in name of spouse, children. so investments in the name of parents not eligible for deduction u/s.80C

1 Like

UNNATI BHOJAK (chartered accountant) (162 Points)
Replied 23 July 2011

CMA Ramesh Krishanji...

what about other section deductions sir?? i m asking from the tax management point of view..

e.g. after my marraige if i contribute to ppf a/c of my parents,, mediclaim policy of my parents then can i claim deduction for the same after my marriage also ...??

thank u in advance

CMA Ramesh Krishnan (Cost & Management Accountant) (71464 Points)
Replied 23 July 2011

U/s.80D mediclaim policy of the parents can be taken as deduction whether married or non married.

But Section 80C is differnet. it allows only the investment like LIC preimum & PPF, in the name of assessee, spouse & children of the asseessee. so under this section deduction cannot taken for investment on paretns name, even dependent also

2 Like

C.A. Sandeep Wawhal (Chartered Accountant PGDFM BCom.) (1823 Points)
Replied 23 July 2011

Deduction u/s 80D can be taken...

1 Like

Naveen.N (student) (1021 Points)
Replied 23 July 2011

U/s.80D mediclaim policy of the parents can be taken as deduction whether married or non married.

1 Like

UNNATI BHOJAK (chartered accountant) (162 Points)
Replied 25 July 2011

Dear experts,

apart from section 80D, is there any other section under which any exemptions or deduction is available to a married woman of her own parents after her marriage neither living with her nor dependent on her

thank u