Can Father claim 80C Deduction for amt invested by Son?

Share
Share This Thread
  1. Kamlesh Kakde

    Kamlesh Kakde New Member

    Can an assessee clam deduction under chapter VI-A against amount invested by the son/father in Fixed Deposit for 5 years or more with scheduled bank ?

    Does income tax allow to claim deduction against the above mentioned investment made by his/her family members ?
     
  2. Karan Batra

    Karan Batra Well-Known Member

    No, the deduction wont be allowed in the above mentioned case
     
  3. Kamlesh Kakde

    Kamlesh Kakde New Member

    Thank you Sir,

    One more query in addition to that,

    As per current year budget, House property purchased up to Rs. 50,00,000/- & on which housing loan taken of Rs. 35,00,000/- can claim deduction on principle repayment of housing loan, otherwise, same shall be disallowed.
    Question is that dis-allowance of principle amount only or interest amount also ?
     
  4. Karan Batra

    Karan Batra Well-Known Member

    The new deduction introduced in Budget 2015 is only for Interest amount and not for Principal amount
     
Draft saved Draft deleted
Loading...