Tax rebate available for contributions in child's name
As per Section 88(2)(i), (v) and (xii), an individual in entitled to a deduction of 20% of the sums paid to LIC, PPF, ULIP in the name of any child.

`Even today, I don't have a bank balance of more than Rs 10,000'
Money doesn't really mean much. Even today, I don't have a bank balance of more than Rs 10,000. Money is only a means of growth.

Exchange of property requires one-time stamp duty
My father, who passed away in 1997, had acquired an apartment in Bandra in Mumbai though a housing cooperative society in 1968.


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