Tax saving FD

15 May 2020

is it possible to withdraw Tax Saving FD investment due to Covid-19 pandemic?
if yes , can anyone explain the process

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4 Replies

CA Harshali Salvi (Expert) (192 Points)
Replied 15 May 2020

Premature withdrawal is not allowed on tax saving FD.

rama krishnan (12244 Points)
Replied 15 May 2020

Yes you can withdraw but 80C deductions availed, based on that tax saving fd, for earlier assessment years will be charged to tax

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suraj zanwar (Student CA IPC / IPCC) (352 Points)
Replied 15 May 2020

Hello Mr. Nagraj Premature withdrawal of tax saving fd is allowed by paying tax which you are saved earlier assessment years.

Thanks

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Nagaraj Manohar (20 Points)
Replied 15 May 2020

Do you knw the proces?

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