Interest of deposits

This query is : Resolved

S. Raghuraman (Querist)
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05 August 2011 Dear Experts,
My Investments in REC Bonds have matured and I want to invest the proceeds in such investments, interest of which will not be taxable. I am a male non-resident Indian and my income from various sources in India does not exceed Rs.1,50,000/- p.a. Please indicate in what ways I can claim deduction under 80C with regard to the Indian income, in case my income exceeds the exempted limit.

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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07 August 2011 One best way is to invest in a PPF A/c, the interest on which is non taxable.

Also you can invest in NSC, whose interest is taxable, but as it is re invested automatically every year, same is allowed as a deduction also.