[aurangabad_ca] Allowability of deduction u/s 80C of the IT Act to HUF for contribution to PPF of coparceners
Dear friends,
A HUF wishes to contribute by way of payment in PPF account of its coparceners or LIC premia. Accordingly HUF shall be claiming the deduction u/s 80C of the IT Act, 1961.
In my opinion this is permissible under IT Act, in view of the fact that PPF account cannot be opened in the name of HUF.
Members are requested to share their views on the allowability of above deduction in the hands of HUF of above payments with decided case law, circular or notification, if they have different view on this.
With best regards,
CA BRAJESH AGARWAL
09818623388 (M)
__._,_.___
DISCLAIMER
AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group�s Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group�s Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
.
__,_._,___
0 comments:
Post a Comment