Tax on principal of tax saving 5 year fd

as u know any amount invested in 5yr FD is allowed as deduction u/s 80C. but what about the intt. on FD. so u have two options here.. either accrue int. yearly and include in your income or include total maturity value as your income in the year of maturity.

deduction under 80EE is available for the FY 13-14 & 14-15. before claiming deduction here, please do check that you satisfy the conditions for claiming this deduction.

Only interest portion of FD is taxable and not the principal amount.

Principal received on maturity of any fixed deposit including tax saver deposit consider as capital receipt therefore will not be considered as income under income tax act... Deduction u/s 80 EE is allowed only to an individual only. Deduction will be allowed on interest payable to any financial institution on loan taken for acquisition of residential property provided certain conditions are satisfied 1. Loan should be sanctioned during fy 2013-14 2. Loan amount should not exceed 25 lakhs 3. The value of house property should not be more than 40 lakhs 4. taxpayer should not own any residential property on the date of loan sanction Deduction amt is limited to 100000 on interest paid or payabke on the property... if this amount is not utilised durinf fy 2013-14 than tax payer can claim balance amt next year... It is being noted that deduction taken under this section will not be allowed in any other section

Only interest amount received on maturity is taxable ..principal amount not taxable..

Deduction u/s 80EE is allowed even in FY 2014-15, if amount claimed in FY 2013-14 was below 1 lakh, subject to a total deduction of 1 lakh in both financial years.

My query was whither principal of a tax saving 5 year bank FD is to be added as income in the year of maturity and tax is to be paid on the principal also. I received contravercial remarks.

Now I am more confused. Plese provide relevent sections of IT act supporting the

remarks

Yes int. On fds is taxable , it means only int amt not a principal amt.