Deduction for purchase of NSC in son's name

Share This Thread
  1. sanjeev reddy

    sanjeev reddy New Member

    Can The Investor claim deduction under sec 80C for investment in NSC.In the present case Investor and Certificate holder are two different persons (relationship: Son(Certificate Holder) & Father (Investor).Can any one of them claim deduction u/s 80C.

    Thanks In Advance
  2. ZED

    ZED Well-Known Member

    The investment has to be made by the person who has contributed the money. As such S.80C does not puts a condition that certificate should also be in the name of the holder.

    I will as such not advice to claim it. If the case gets selected in scrutiny then AO might disagree and disallow the deduction, further the amount would be small so going to appeal is not a wise option either.

    [In my personal opinion It should be allowed but it CAN be disallowed by AO and therefore being prudent, I do not advise to claim deduction.]
Draft saved Draft deleted