POSTED BY June 7, 2011 11:13 pm ONE COMMENTON
I have life insurane premium of 47.5k per year and Home Loan Principal of 1.3 lacs per annum. My 80C investment crosses the max limit of 1 lac…Is it possible ofr my wife to show the insurance premium under her 80C while filing IT? Though the insurance is in my name, just that would she be able to show that premium in her IT file?
I think this shud be fine as long as one of us are showing the premium under 80C and not both from a single family…could somebody help me with this?