If I applied for 5 year Tax Saver Fixed Deposit of Rs 1,50,000.00 on 01/03/2015.
Will the same FD can applicable for Tax Exemption on the following 5 financial years (2016,2017,2018,2019)
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Deduction u/s80c on fd
Replies (7)
No It will applicable only for the p.y in which you deposit only. the deduction is for the purpose of encourang savings, you cannot can not claim in further years.
only financial year 2014-15 me allowed hoga.
When I post any query why I get message DATA MISSING
Deduction allowed only in the year of making investment i.e f.y 2014-15
if i made a fd of Rs:-150000 in april 2015, it exempt or not for fy 2015-16
It is not a recurring tax benefit only one time tax saving is available to you in the year of investment.
No ,
the decution u/s 80C is only for FY 2014-15
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