Deduction u/s 80c

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Querist : Anonymous

Querist : Anonymous (Querist)

28 January 2013 Interest on five years fd under tax saver scheme is reinvested is deductible u/s 80c?
and interest on both principle and reinvested interest is deductable u/s 80c?

@VaibhavJ

@VaibhavJ (Expert)
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28 January 2013 hey hi,

No such option is available, hence better to get that amount paid to you & you invest it.

Such benefit is available only for int. on NSC.

Thanks!!

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Sanket Damodar Karve

Sanket Damodar Karve (Expert)
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28 January 2013 5-Yr bank fixed deposits (FDs): Tax-saving fixed deposits (FDs) of scheduled banks with tenure of 5 years are also entitled for section 80C deduction.

From the above it is quite clear that only Fixed Deposit, not interest is available for claiming deduction. However u can make the FD of the interest amount to avail the deduction u/s 80C.

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Querist : Anonymous

Querist : Anonymous (Querist)

28 January 2013 Thanks,
sir i heared from someone that their was a central scheme before sometimes for deduction interest on tax saver fd.

Sanket Damodar Karve

Sanket Damodar Karve (Expert)
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28 January 2013 http://gsoftnet.blogspot.in/2012/06/benefits-of-tax-us-80c-in-assessment.html

Kindly go through the article.

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