07 June 2013
Dear Experts I have opened 5 year Recurring Deposit in post office and deposit amount on monthly basis. Is it comes under section 80C or what? Please give your expert opinion in this regard. Thanks in Advance
08 June 2013
No, Post office RD is not covered under 80C. In case if u want 80C benifit you can invest in: 1) TAX SAVER FD in Nationalise bank on which 80C Benfit is given. 2) If you want to Make investment monthly as a RD and also want 80C benifit then you can invest in LIC Jeevan Saral Plan table No.165 on which u will get 80C benifit. One plus point return from LIC is not taxable while return on RD in Post office is also Taxable.
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