Interest income from deposits with banks u/s 80 c

In the case of Deposits in NSC the interest earned from NSC also qualifies for deduction u/s 80 C. But interest income accrued from similar deposits u/s 80 C made with banks is not deductible. Why ? As in NSC'S the banks also follow a lock in period of 5 years and so one cannot withdraw the interest earned each year. This priciple applies in the case of interest earned from NSC's - so why this same priciple should not be followed for bank deposits u/s 80 C also.

Replies (1)

Valid ground, you can think of making a representation by way for a formal letter to CBDT and Ministry of Finance (Revenue Department).

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details