deduction under 80C
This query is : Resolved
sagar madan
(Querist)
02 August 2008
The investment made in FD in schedule bank under Sec 80C is allowable deduction. What about the interest thereon? If the interest is taxable, then should the interest be accounted each year or at the time of maturity of FD ie after 5 years? Will the amount received on maturity including interest is taxable?
sagar madan
(Querist)
02 August 2008
Please also inform me that whether interest from NSC made in A.Y. 2006-2007 for 6 years is eligible for deduction in 80C in all 6 years? The amount received on maturity of NSC will that be allowed as deduction in 80C?
CA Vivek Jain
(Expert)
02 August 2008
interest from NSC made in A.Y. 2006-2007 for 6 years is eligible for deduction in 80C in all 6 years.
The amount received on maturity of NSC will not be allowed as deduction in 80C.
The amount received on maturity of NSC will not be allowed as deduction in 80C.
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
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
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
