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Deduction

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(Querist)
29 July 2016 Hello all... Is there any deduction available for amount deposited in RD? If yes,Under what section & what is the maximum exemption ?
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Nikita Gupta

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Nikita Gupta (Expert)
31 July 2016 Under Section 80C of Income Tax Act 1961, there is no deduction for deposit in RD account. You can read in the following link investments which are allowed for deductions u/s 80C

http://www.incometaxindia.gov.in/_layouts/15/dit/pages/viewer.aspx?grp=act&cname=cmsid&cval=102120000000037018&k=&isdlg=0

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