RD OF POST OFFICE
This query is : Resolved
17 March 2011
Why Post office 5 Years RD not consider under 80C? actually it’s a long term investment
17 March 2011
RD , though is long term investment, but the nature is "Recurring". So the mode of investment in actually a lock-in kind of thing.
In my opinion, this is the reason, why a 5 year post office term deposit is eligible for 80C whereas the same term RD is not considered for 80C.
In my opinion, this is the reason, why a 5 year post office term deposit is eligible for 80C whereas the same term RD is not considered for 80C.
17 March 2011
Others may have different view....so keeping this query OPEN..
17 March 2011
Recurring Deposit is nor considered an allowable deduction u/s 80C of the IT ACT.
Even recurring deposit at bank is also not allowed u/s 80C of the IT ACT
Even recurring deposit at bank is also not allowed u/s 80C of the IT ACT
17 March 2011
Agree with Sunil sir, Recurring Deposit either in bank or post office, will not eligible for deduction u/s 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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
