Investment declaration

QUERY:    Can I make payment for my husband's LIC and claim in 80C for my tax exemption?

REPLY: Yes, the wife can. See Section 80C (4) of the Income Tax Act 1961:

Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscripttion to certain equity shares or debentures, etc.

80C. (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one lakh rupees.

(2) The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee—

 (i)  to effect or to keep in force an insurance on the life of persons specified in sub-section (4);

(3)     --------------------------

(4) The persons referred to in sub-section (2) shall be the following, namely:—

(a)  for the purposes of clauses (i), (v), (x) and (xi) of that sub-section,—

 (i)  in the case of an individual, the individual, the wife or husband and any child of such individual, and

(ii)  in the case of a Hindu undivided family,---------------- 

(b)---------------------------

(c) ---------------------

Sir, this is helpful. Thank you for the information.

When the market is delivering so much, why is that the investor is making out less? What are all the factors contributing for this gap in the market returns and the investor returns?
Though the market is delivering returns, investors were not able to benefit. Why is it so? What went wrong? It is because of the nature or character of the investor.

 https://www.holisticinvestment.in/investment-behavior-and-returns/

 Regards,

Ramalingam K, MBA, CFP,

Chief Financial Planner,

Holistic investment planners private limited,

www.holisticinvestment.in