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Premature withdrawl

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(Querist)
09 July 2021 sir,
someone invested in fd for 5 yrs and claim deduction u/s 8o c later on he premature of FD ,what is the head under which he is chargeable to tax after premature of FD,;
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 July 2021 Tax-saving fixed deposits have a lock-in period of 5 years. No premature withdrawals, loans, or overdraft facilities are available against tax-saving FDs
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RAKESH

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RAKESH (Querist)
10 July 2021 Sir mean to say somone want to break the tax saving fd .they cannot do so.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 July 2021 Yes you are right........
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