2 responses

  1. Mathew
    December 10, 2011

    Hi,

    I was looking into my insurance a couple of months ago. This site contains a great deal of helpful information:

    http://littlurl.com/fzjvo

  2. HMT
    December 10, 2011

    Under the Income Tax Act, a HUF is treated as a separate entity for the purpose of assessment.
    Since the HUF is a separate entity, it can earn income from all the income heads except income from salary.
    The HUF can claim Rs 1,00,000 deduction under Section 80C, when it files its ITR.

    You can also claim Rs 1,00,000 deduction under Section 80C, when you file your ITR as an individual to declare your income.

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