Is Monthly payment towards post office deposit available for deduction U/s 80C?. Period is 5 Years. Amount is Rs.1000 p.m
Mihir
(Wealth Manager)
(5293 Points)
Replied 17 March 2014
Investing in 5-year post office time deposit is allowable deduction u/s 80C.
Neethu
(CA)
(138 Points)
Replied 17 March 2014
Is Deduction available only to the person making payment?
Vikas
(Practicing Chartered Acountant)
(79 Points)
Replied 18 March 2014
if you are talking abour Post Recuring Deposit then No Deduction U/S 80C. only time deposit is eligible for dedution
C.A.SUNIL HUKKERI
(CHARTERED ACCOUNTANT)
(58 Points)
Replied 18 March 2014
Only 5 year time deposit is available upto limit of Rs 1 Lac
Ajay Balasubramanian
(ACA)
(114 Points)
Replied 29 July 2014
RD is not available for Section 80 C deduction...only Time deposit is available for deduction...
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