Deducation 80c
This query is : Resolved
Chanderkant gupta
(Querist)
18 March 2017
Sir/Madam,
I want to ask that if i deposited FD for 5 year with Bank, Can i Claim deduction only one time or Every year.
Interest on FD Taxable or Exempt.
I want to ask that if i deposited FD for 5 year with Bank, Can i Claim deduction only one time or Every year.
Interest on FD Taxable or Exempt.
18 March 2017
Investment in FD is liable for deduction only in the yearvwhen the FD was made and not for all 5 years.
Interest in FD is taxable and on year to year basis.
Interest in FD is taxable and on year to year basis.
Chanderkant gupta
(Querist)
18 March 2017
THANKS Ruchi for advise
KAVIRAJA ADDANGADI
(Expert)
18 March 2017
Investment can be claimed once in the year of investment. Accrued interest to be declared every year, same is taxable Under income from other sources if Taxable limit exceed Threshold limit.
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