sir,
I have post office recurring deposit of Rs.1000 p.m.for 5 years.
Is this amount of 1000 will count under 80c? How intt.accrued on this deposit will be treated for income tax purpose?
what is the procedure for calculating interest?
plese guide and thanks in advance/
No U cant claim Deduction U/S 80C. In 80C only 5-Yr post office time deposit is only allowed as deduction.
Thanks
R Shriram
ya you cannot claim it as ded u/s 80C
Ya true, No 80C allowed
CAclubindia
