I am paying LIP to my daughter Rs 12500 per annum since 5
years. last year she got married. Pl advice me whether I
can add her LIP payment to my savings to get Tax benifit



I am paying LIP to my daughter Rs 12500 per annum since 5 years. last year she got married. Pl adv..

Answer / ankit jain

no, since she is now married daughter, you cannot claim LIP
as deductionunder Chap VIA of Income-tax act

Is This Answer Correct ?    7 Yes 1 No

Post New Answer

More Taxation Interview Questions

Ho to calculate FBT ? Which Exepense heads are comes under the category of FBT ? What is th e slab or rate ?

11 Answers   Ambe Consultancy, Infosys, OPI Global, TCS,


I am getting a salary of 50000 Rs Net salary. After showing my rent bills and children school bills, still I am being deducted a TDS amount of 2000. Is there any chance of even avoiding this amount to be deducted by investing in any insurance. Please give me a suggestion.

2 Answers  


taxes leivied on carpentar & plumbing services

0 Answers  


What is the road permit I want to sale in outside of state what is the required Document and why.

7 Answers   Concept Concrete Enterprises, Hitachi, Syselec Technologies,


Goods sold outside the state at rs 300000 excluding 2percent CST I want solution with journal entry

2 Answers  






ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes

0 Answers   Microsoft,


procedure to get Raw Material free of excise duty under Central Excise Act,

0 Answers  


computation of monthly income tax? example;-salary of male employee below 65 yr. of age the yrs inclusive of all perquisites is Rs.450000/- out of which rs.50000/- is account of non monetary perquisites and the employer opt.to pay the tax on such perquisites as per the provision?discusson above with reply

1 Answers  


sir mai ek bar cst online tax payment kar raha tha to sar maine tac par na click kar ke interst par click kar di ho mai kya karu please give a anwers

0 Answers  


what is the entry tax explain briefly?

0 Answers  


what is defered revenue tax

3 Answers   Animaster,


If purchaser receive 4 nos Invoice from seller agnst Inter State Purchase in One Quarter and By mistake Purchaser issued one Form C in One Quarter only for 3 Invoice. Can he (Purchaser) issue another Form C for rest 4th Invoice or not???

4 Answers  


Categories