80c (Taxation)

This query is : Resolved

Author : avneesh

PRO CHAT CALL

Posted On 21 August 2012 at 17:22

husband is filing his itr, is showing his total income only 165000. he has deduction of 80c of rs 56000 in his name but he does not want show it because his income is less than 180000.

but his wife has total income Rs 237000 she also have deduction of 80c in her name of Rs. 15000,

Question- is whife can take deduction of 80c of husband which is not used by husband but accualy paid by husband

avneesh.bibhu@gmail.com

Expert : M V Gupta

PRO CHAT CALL

Posted On 22 August 2012 at 19:35

No. 80C contributions such as LIC premium, PF contributions etc can be claimed by the contributer only. They are not transferable.

Expert : Adv.Ashwini Khatri

PRO CHAT CALL

Posted On 23 August 2012 at 17:59

Dear Avneesh, An Assessee can get benefit of investment of LIC premium of self as well as his wife and his children also under section 80C whether he pay the same or pay by his wife. It will be allowed.

Expert : M V Gupta

PRO CHAT CALL

Posted On 25 August 2012 at 20:41

I stand corrected. I agree that under Section 80C (2) read with sub section (4) thereof of the IT Act the LIC premia, contributions to PF set up by the GOI, and unit linked insurance policy premia in respect of the husband and children can be claimed as deductions by the wife.