Dear All,
Could Post office RD a/c comes under 80'c' exepmtion?
Regards,
Ankit
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80 c exepmtion
Replies (3)
No , exemption is available only on FD for 5 years or more. When you go to a bank to open a tax saving FD, please mention it upfront that you want a tax saving FD and not a regular FD – this is because banks offer these tax saver FDs as separate and distinct from regular FDs.
| Name of Banks offers these FD's |
| State Bank of India (SBI) |
| ICICI Bank |
| HDFC Bank |
| IDBI Ltd. |
| Canara Bank |
| Allahabad Bank |
| Union Bank of India (UBI) |
| Syndicate Bank |
|
Post Office Time Deposit Account Thanks, |
I have FD for five years Rs.100000/- So how many amount deducation every year.
Hirday, the deduction is available only if
1.while opening the FD, it was clarified to the bank that it is a tax saver FD.
2. deduction is available only in the year in which the deposit is made.not in subsequent years
3. interest income on this FD is taxable income.
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