Save Tax under 80 C

POSTED BY Avanti ON December 9, 2011 2:21 pm COMMENTS (3)

Hi,

From last 3 yrs. I have an Insurance policy on my name. And this insurance premium I used to save tax from my salary
From this FY my Husband want show this insurance premium under his Salary.
Weather is it possible?

Regards,
Avanti

3 replies on this article “Save Tax under 80 C”

  1. Dear Avanti, A typo error – read 80C as well as 80D in the above reply.

    Thanks

    Ashal

  2. Dear Avanti, being your husband, he may claim the tax benefit on the 80D policy taken on your name if he is the prem. payer. In case, you are the beneficiary of the policy & at the same time paying the prem. also, your husband can’t claim the tax benefit.

    Thanks

    Ashal

  3. Avanti – Yes, your husband can claim tax benefits by paying for your insurance policy. For this the premium payment MUST go out from his account.

    http://www.indiainfoline.com/PersonalFinance/Insurance/Tax-Benefit.aspx

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