Tax saving term deposit

Ritesh Agarwal (Student) (57 Points)

10 March 2014  

I Have Invested Rs. 50,000.00 in Tax Saving Term Deposit of Bank on 06/02/2013.

The tax earned on it uptill March 2013 is Rs. 666.00, and Rs. 67.00 have been deducted by the Bank as TDS.

Thus, Rs. 599.00 (of the Interest) has been compounded (i.e. reinvested) into the Tax Saving Term Deposit.

Will I get Tax Exemption under Section 80 C for Rs. 50,000.00 AND Rs. 599.00?

 

Please confirm.