21 March 2016
Dear Under section 80C if a FD satisfies the following condition then it is said to be a tax saving FD. as term deposit— (a) for a fixed period of not less than five years with a scheduled bank; and (b) which is in accordance with a scheme framed and notified, by the Central Government, in the Official Gazette for the purposes of this clause. Explanation.—For the purposes of this clause, "scheduled bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), or a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other bank, being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934);
21 March 2016
My salary Is 871488 out of which i am getting 108660 as HRA And i am paying 90000 As A Rent And i Have house also in which i shifted before 2 Months for that i had paid pre -construction intrest And principle 95578&22930 andi have Lic also for which i had paid 84902 rs nd PF is 43464 and mediclaim of rs 11171 So what investment i have to make to reduce it to Zero
CAclubindia
