Tax matters

POSTED BY Mahesh ON February 23, 2011 1:11 pm ONE COMMENT

Is it true that NRI do not get  80C Tax deduction on ELSS investments.
Also if parent has taken insurance and does not have an income in India but the child has income and pays the premium for the parents-this is disallowed.But parents can pay for their children and spouse for their partner.
Also if the minor child attains maturity towards the end of the financial year (ie 16/3/2011) -the income derived for FY 10-11 is not clubbed with parent but with the individual.Is this correct?
Thanks;mahesh

One reply on this article “Tax matters”

  1. nikhil anand says:

    thanks for new regestration,
    i am nikhil anand. i take a LIC JEEVAN SHREE plan no. 162 on 2007.my premium is approx RS 25-26 thousand yearly of RS 500000. iwant to pay the whole premium 16 years. i want to know what will be the whole money i get at the end of 21 year.AND ALSO,
    i want to know. according to my agent the full payment will be on 21 year thus i want to take payment on full period of 25 year.is it possible to take policy full payment not in 21YEAR.TAKE FULL PAYMENT IN 25 YEAR.PLEASE GIVE ME A BEST SUTIABLE ANS OF ABOVE QUESTION.
    THANK YOU
    NIKHIL ANAND

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