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Salary calculation

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(Querist)
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??
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CA Parul Saxena

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CA Parul Saxena (Expert)
15 October 2014 yes but FD must be for 5 years lock in period.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
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.
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savita

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savita (Querist)
15 October 2014 may i knw which FD's ar specified for tax purpose????
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CA Parul Saxena

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CA Parul Saxena (Expert)
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.
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@VaibhavJ

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@VaibhavJ (Expert)
15 October 2014 Agree with experts..
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