I had 3 FD's of of 1,00,000 each. These all matured on 05-04-19.
I deposited Lump Sum Amount of 3,00,000 in 5 year PO Time Deposit.
Whether I can claim deduction u/s 80C as these Investments are not out of Current income but from Previous Matured Investments.
My question is that Investments that I have done in TIme deposit are not from current income but from previous matured deposits.
So in that case whether exemption can claimed or not ?
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There are controversial views, can't understand now to claim the same or not.
Several years ago, similar such rule was tried to be brought related to PPF contribution and 80C benefit. The rule was rescinded in the budget debates due to protests.
I dont think that your 80C contributions must come from the income of the same financial year.
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