Recurring deposit in post office
This query is : Resolved
Nupur Sharma
(Querist)
12 November 2014
Hi All,
There is quite a lot of ambiguity on this topic, hence I am posting a query for a final opinion on this. Is recurring deposit in post office allowed as a deduction under section 80 C? Or only a time deposit (fixed deposit) for a period of 5 years is allowed as a deduction?
Thanks in advance
There is quite a lot of ambiguity on this topic, hence I am posting a query for a final opinion on this. Is recurring deposit in post office allowed as a deduction under section 80 C? Or only a time deposit (fixed deposit) for a period of 5 years is allowed as a deduction?
Thanks in advance
Nikhil Kaushik
(Expert)
12 November 2014
only a times deposit with maturity of 5 years or more will get the deduction that too in the year of deposit.
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Nikhil Kaushik
(Expert)
12 November 2014
only a times deposit with maturity of 5 years or more will get the deduction that too in the year of deposit.
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Rupesh Jain
(Expert)
22 November 2014
u./s 80C only time deposit will eligible.
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