recurring deposits and tax computation

No. Recurring deposit does not come under the ambit of  deduction under section 80C. Even you deposit in RECURRING DEPOSIT for more than 5 years, then also it cannot be claimed as deduction under section  80C.

Instead, you should invest in Fixed Deposit  in order to claim deduction under section 80C. The interest rate are more or less same in both RD and FD. The only condition in FD is that FD should be for atleast 5 years.

what is the best way for earning income more and save tax other than deposits ?

The different investment schemes which fall under 80C of tax deduction include:

Public Provident Fund (PPF)

Life Insurance Premiums

Equity Linked Savings Scheme (ELSS)

Provident Fund (PF) and Voluntary Provident Fund (VPF)

Home Loan Principal Repayment

Stamp Duty and Registration Charges for a home

National Savings Certificate (NSC)

Infrastructure Bonds

Pension Funds Section 80CCC

5 year bank fixed deposits

Senior Citizen Savings Scheme 2004 (SCSS)

5 year Post Office Time Deposit (POTD) scheme

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