Deduction under section 80c
This query is : Resolved
07 June 2013
Dear Experts I have opened 5 year Recurring Deposit in post office and deposit amount on monthly basis. Is it comes under section 80C or what? Please give your expert opinion in this regard. Thanks in Advance
07 June 2013
no , recurring Deposit not come in 80C
08 June 2013
No, Post office RD is not covered under 80C.
In case if u want 80C benifit you can invest
in:
1) TAX SAVER FD in Nationalise bank on
which 80C Benfit is given.
2) If you want to Make investment monthly
as a RD and also want 80C benifit then you
can invest in LIC Jeevan Saral Plan table
No.165 on which u will get 80C benifit. One
plus point return from LIC is not taxable
while return on RD in Post office is also
Taxable.
In case if u want 80C benifit you can invest
in:
1) TAX SAVER FD in Nationalise bank on
which 80C Benfit is given.
2) If you want to Make investment monthly
as a RD and also want 80C benifit then you
can invest in LIC Jeevan Saral Plan table
No.165 on which u will get 80C benifit. One
plus point return from LIC is not taxable
while return on RD in Post office is also
Taxable.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- LIC maturity claim whether taxable
- TDS AND ITR ISSUE
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
