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Tax saver fix deposit query

15 October 2020

I have one tax saver FD with my wife, wherein, I am primary holder and she is joint holder in either or survivor as MOP, can I open other tax saver FD in which my wife will be primary holder and I will be joint holder in either or survivor?? whether we both can claim tax benefit??

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7 Replies

ayusmita (Tax consultant) (5885 Points)
Replied 16 October 2020

Yes you can invest in other tax saver fd
if your wife is not filling return then we will liable to claim wholly but if you're wife is filling return
then being a joint holder the amount will be divided among both of you and will shown in respectively ITR

Sushil Kale (24 Points)
Replied 16 October 2020

Thank You so much...One more query, can I open more than 1 tax saver FD and more than Rs 1,50,000/- threshold???

Sushil Kale (24 Points)
Replied 16 October 2020

Thank You so much...One more query, can I open more than 1 tax saver FD and more than Rs 1,50,000/- threshold???

Sunil Sunny Kumar (61 Points)
Replied 17 October 2020

You invest as much possible but deduction you get only 150000.

Sushil Kale (24 Points)
Replied 17 October 2020

Thank you so much...

Shivam RC (Student) (23683 Points)
Replied 17 October 2020

The maximum deduction limit available under Section 80C of the Income Tax Act 1961 is Rs. 1,50,000/- Also the combined limit of Section 80C, 80CCC and 80CCD(1) is also Rs. 1,50,000 as per the Provision of Section 80CCE of the Income Tax Act 1961.