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Deductions chap-- vi
whether the deposit shall be made ONLY FROM INCOME CHARGEABLE TO TAX?
Replies (2)
No.......... Deposits can even be made from the capital which is already been taxed.
Well, there a 5 years deposits which banks offer u/s. 80C, can be utilized for deductions from taxable income u/s. 80C
you can make deposits out of exempted incomes also like agricultural income, dividend income, ltcg exempted as per 10(38) etc
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