regarding investment in fd

(Guest)

if invest 100000.00 for 5 years in fd

so how many years shoud i get the exemtion of that investment in concern period only or what

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5 Replies

Krutesh Patel (ACA) (727 Points)
Replied 08 April 2010

Yes. Mr Uday is right

CA.Nikhil Gupta (PRACTICE) (768 Points)
Replied 09 April 2010

Agree. deduction is investment based and can be claimed only once.

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 09 April 2010

Rs. 100000/- would be deducted from GTI u/s 80C on account of investment in term deposit (5 years or more).........

Deduction would be allowed in the year of investment only............

Raj Saxena (1412th Tiger) (Struggling Student) (272 Points)
Replied 09 April 2010

Originally posted by : Uday Kiran
	Dear Sumit You will get the exemption in the year of investment only. In your case Rs 1 lakh deposited would be eligible for deduction u/s 80C in the year of investment.

Amit Singh (Chartered Accountant) (270 Points)
Replied 09 April 2010

Agree by all view but Mr. Sumit pls. check whtr on FDR Receipt it is written that it is eligible for 80C

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