Dear All,
Could Post office RD a/c comes under 80'c' exepmtion?
Regards,
Ankit
Dear All,
Could Post office RD a/c comes under 80'c' exepmtion?
Regards,
Ankit
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.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
