Bank fixed deposit deduction u/s80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2012
Sir
maine bank se 500000.00 ki fixed deposit karali hai mujhe incometax mein u/s80c mein rebate milegi.meri post office mein rd and mis chal rahi hai kya iski 80c mein deduction milega.
maine bank se 500000.00 ki fixed deposit karali hai mujhe incometax mein u/s80c mein rebate milegi.meri post office mein rd and mis chal rahi hai kya iski 80c mein deduction milega.
10 January 2012
In order to claim Fixed deposit u/s 80c the the same should be tax saving fixed deposit.
The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal. (b) Year is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. e) Term deposit under this scheme cannot be pledged to secure a loan.
Not every Fixed deposits opened is eligible for 80C deduction. Ask the bank to open a tax saving fixed deposit.
The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal. (b) Year is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. e) Term deposit under this scheme cannot be pledged to secure a loan.
Not every Fixed deposits opened is eligible for 80C deduction. Ask the bank to open a tax saving fixed deposit.
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
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
