POSTAL RD

This query is : Resolved

rajesh (Querist)
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18 November 2009 DEAR MEMBERS

POSTAL RECURRING DEPOSIT MONTHLY INVESTMENT IS ALLOWABLE FOR CLAIMING OF DEDUCTION U/S 80C.

PLEASE TELL ANY CIRCULAR/ CASE LAWS ON THIS QUERY

THANKS IN ADVANCE

Rajnish

Rajnish (Expert)
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18 November 2009 See Section 80C of Income Tax Act 1961

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 November 2009 5-year Post office recurring deposit account will not qualify for deduction u/s 80C.

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CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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18 November 2009 agree

rajesh

rajesh (Querist)
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18 November 2009 DEPOSIT AMOUNT OF POSTAL RD IS NOT EXEMPT IN GROSS TOTAL INCOME IN ANY SECTION OF INCOME TAX ACT

PLEASE TELL

Taranjit Singh

Taranjit Singh (Expert)
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18 November 2009 Find a list of all points here....

http://www.raagvamdatt.com/Saving-Income-Tax-Understanding-Section-80C-Deductions/123/

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 November 2009 No section in the income tax act,1961. Exemption for other such schemes are given by way of notifications. As far as PO RD is concerned no notification has been issued by CBDT so far.