Instruments for Deduction under Section 80C for HUF

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  1. what are varios instrument available for HUF under 80c
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    There are various instruments which are allowed as a deduction under Section 80C for HUF's, some of which are as follows:-
    1. Tax Saving Fixed Deposits
    2. Life Insurance Premium for any Member of HUF
    3. Tax Saving Mutual fund
    4. Stamp Duty and Registration Charges on purchase of a House
    5. Children Tuition Fees for any Member of HUF
    6. Repayment of Principal amount of Home Loan
    There are several other instruments as well which are allowed as a deduction under Section 80C for HUF's. The complete list has been mentioned here - http://www.incometaxindiapr.gov.in/incometaxindiacr/contents/DTL2013/section80c.htm
     
  3. huf can not contribute in huf member`s PPF is it right?
     

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  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    brij bhushan gupta likes this.
  5. in ppf accounts of its huf member?
     
  6. kapil birmiwala

    kapil birmiwala New Member

    CAN A HUF FIRM ....INVEST IN NSC FOR 80 C DEDUCTION
     
  7. kapil birmiwala

    kapil birmiwala New Member

    CAN A HUF FIRM ....INVEST IN NSC FOR 80 C DEDUCTION
     
  8. V K Khanna

    V K Khanna Active Member

    No. HUF cannot invest in National saving certificates.
     
  9. CA. Kuljit Singh

    CA. Kuljit Singh New Member

    it seems form clause (c) of sub section (4) of section 80C that an HUF can not claim deduction for tuition fee of children of member of HUF. only individual can claim deduction. Please advise.
     
  10. ZED

    ZED Well-Known Member

    S.80C(2)(xvii) as tuition fees (excluding any payment towards any development fees or donation or payment of similar nature), whether at the time of admission or thereafter,—

    (a) to any university, college, school or other educational institution situated within India;

    (b) for the purpose of full-time education of any of the persons specified in sub-section (4);

    (4) The persons referred to in sub-section (2) shall be the following, namely:—

    (a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section,—

    (i) in the case of an individual, the individual, the wife or husband and any child of such individual, and

    (ii) in the case of a Hindu undivided family, *any member thereof;

    (b) for the purposes of clause (ii) of that sub-section, in the case of an individual, the individual, the wife or husband and any child of such individual;


    *Children will become member of HUF by birth.
     
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