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