Salary calculation
This query is : Resolved
15 October 2014
Dear Sir,
my query is, if a salaried person make FD of Rs.1,00,000 per year & his annual salary is 4,00,000/- then can we deduct this 1,00,000 as investment from his income for TDS purpose.
pls reply can we get any exemption for this??
my query is, if a salaried person make FD of Rs.1,00,000 per year & his annual salary is 4,00,000/- then can we deduct this 1,00,000 as investment from his income for TDS purpose.
pls reply can we get any exemption for this??
15 October 2014
yes but FD must be for 5 years lock in period.
15 October 2014
The FD should be for 5 years and specified for tax saving, can be deducted from his income for TDS purpose subject to overall ceiling u.s 80C.
15 October 2014
may i knw which FD's ar specified for tax purpose????
15 October 2014
you just need to go to bank ask that you want tax saving fd for 5 years.on the acknowledgement they would write tax saving fd then it would be eligible.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
