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Fd

Neha Mishra (@student) (234 Points)

01 July 2014

dEAR sIR

I have made Fixed Deposit of Rs. 90000 for 5yrs

How much Deduction i get u/s 80c

and further for how many A.Y. THIS will be taken

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7 Replies

(Guest)

u take deduction u/s 80c is maximun Rs 100000. ur FD is have minimum lock in period 5 yr than u take deduction on it. curennt AY is allowed for deduction on ur FD. in short u can clain RS.90000 in 80C.

3 Like

(Guest)

deduction is allowed for only the same financial year in which u had invested amount in fd.. the same amount cant be claimed in future years dear

Mihir (Wealth Manager) (5293 Points)
Replied 01 July 2014

You may claim this 90,000/- deposit in 5-year FD u/s 80C. Interest thereon shall be taxable.

Neha Mishra (@student) (234 Points)
Replied 01 July 2014

Thanks sir Thanks

Fenil Shah (Audit & Tax Executive) (402 Points)
Replied 01 July 2014

Deduction u/s 80C of Rs. 90,000 for the year of Investment.

CA PuRvI M!$rA (-) (2260 Points)
Replied 01 July 2014

U can claim the deduction only in the year in which you have invested.

CA Pooja Sharma (Chartered Accountant) (192 Points)
Replied 02 July 2014

80C allows deduction for FD of 5 yrs or more with a scheduled bank ,so you may claim deduction under 80C only in the year in which FD is made and not in the subsequent years.