deduction u/s 80C
This query is : Resolved
26 March 2011
Dear Expert,
suppose I have made Rs 100000/- FD(Tax Saving) for 5 Year Term and claimed Rs 100000/- deduction u/s 80C. After the completion of 5 Year will that matured value ie Rs 150000/- will be taxable under Income Tax?
Thanking You.
suppose I have made Rs 100000/- FD(Tax Saving) for 5 Year Term and claimed Rs 100000/- deduction u/s 80C. After the completion of 5 Year will that matured value ie Rs 150000/- will be taxable under Income Tax?
Thanking You.
26 March 2011
No. Only the interest part will be taxable. i.e. Rs 50000/- as per given example.
27 March 2011
At the time of making Tax saving investment, you can claim deduction for investment value.
At the time of redemption of investment, Interest accrued on the investment will part take the character of income and it will be get taxed under Income tax
At the time of redemption of investment, Interest accrued on the investment will part take the character of income and it will be get taxed under Income tax
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
