Interest on fd !!!

This query is : Resolved

Abhishek Kumar (Querist)
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24 April 2014 Dear Experts,
Pls let me know if Interest on FD can claimed for Sec 80C.
Is it liable to deduct tax.?

Regards.

Rupesh Jain

Rupesh Jain (Expert)
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24 April 2014 IF YOUR FDR MATURITY PERIOD MINIMUM 5 YEARS. IT MAY BE POST OFFICE AND IN BANK FDR. THEN YOU CALIM U/S 80C

Abhishek Kumar

Abhishek Kumar (Querist)
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24 April 2014 if i take 2 year FD..can i avail the benefit ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 April 2014 please frame your queries properly. what you mean by :interest on fd can claimed for 80C?

deduction under 80c (for investments/payments made therein) shall be available against all the sources of income.

no - for any fd (unless covered under tax saver fd) no benefit is allowed. Also please note interest even on tax saver FDs is taxable.

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Rupesh Jain

Rupesh Jain (Expert)
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24 April 2014 NO INTT ON FDR WILL BE TAXABLE UNDER INCOME FROM OTHER SOURCES.

Abhishek Kumar

Abhishek Kumar (Querist)
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24 April 2014 Sorry..i was asking whether i can claim the benefit for interest on Fd for Sec 80C.?