80c
This query is : Resolved
29 February 2016
Hai All
Kindly let me know Tax exemption IF ANY on 5 Years Post Office Recurring Deposit
Kindly let me know Tax exemption IF ANY on 5 Years Post Office Recurring Deposit
29 February 2016
There is no deduction for 5 Year P.O. Recurring deposit under section 80C. However 5 Year Time Deposit is a qualified investment.
Message likes :
1 times
08 March 2016
Sir what the problem is previously the employer allowed the 5 yr PORD. Now I replace the former expert and I ruled out the deduction.
12 March 2016
Since the last 10 years or so, the ITR is filed either electronically or if physical paperless. In good faith the Department accepts your claim. Only in case of scrutiny assessment are the details verifies. Hence you had faced no problems. Section 80C is very clear, the exemption is only for 5 year PO Time Deposit not PO Recurring Deposit.
25 April 2016
Thank you. I Did not give the claim And your advice helped me to show as a support to my staff.
25 April 2016
You are most welcome. Glad to have been of help .
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
