Reccuring deposit - icici bank

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Ananth (Querist)
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03 July 2012 Dear all,

I Have a reccuring deposit with ICICI bank or one year.

Does this investment come under Section 80C?
If not 80C , where this can be availed.

Please assist.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 July 2012 Investment in RD is NOT eligible for deduction at all, neither u/s 80C nor any other section.

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Ananth

Ananth (Querist)
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03 July 2012 Is it the same with Post office RD also??

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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03 July 2012 Yes investment in post office RD is also not eligible for deduction.

Investment in five year time deposit in post office is eligible for deduction.

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