Easy Office
LCI Learning

Interest on recurring deposit is deducted?

This query is : Resolved 
Profile Image

Profile Image

(Querist)
17 August 2013 dear sir,

can i deducted interest on recurring deposit in bank in 80C or not if it is deductabel so which section can i deducted interest?
Profile Image

Prof. Bajaj

Profile Image

Prof. Bajaj (Expert)
18 August 2013 Interest earned on recurring deposit is an income. So You cannot "deduct" it.

May be your asking if it qualifies for tax deduction u/s 80C. The answer is no.

Interest earned on RD is taxable and cannot be claimed for deduction u/s 80C.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links