Deduction u/s 80c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2013 I had made a FD of 100000 in SBI 5 years ago.I reccieved Rs.150000 in FY 12-13.Now in deduction u/s 80c what is the amount for which i will get deduction and what amount should i show under the head income from other sources.

CA Kapil Verma

CA Kapil Verma (Expert)
Follow

07 June 2013 1. No 80 C deduction in F.Y 2012-13 as you not invested the money in this year.

2. Accrued interest on The FD should be shown spreading in 5 year.

3. In f.Y 2012-13, show only the accrued interest related to this year out of 50000/-

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2013 then in which year shouldm i claim deduction u/s 80c.There is a deduction u/s 80c for fd made in some banks for 5 years.

CA Kapil Verma

CA Kapil Verma (Expert)
Follow

08 June 2013 In the year you make FD i.e ist year of FD

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok