Deductions chap-- vi

Durga Prasad (Intern at GM Kapadia & co;) (40 Points)

11 July 2017

whether the deposit shall be made ONLY FROM INCOME CHARGEABLE TO TAX?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (179966 Points)
Replied 11 July 2017

No.......... Deposits can even be made from the capital which is already been taxed.

Well, there a 5 years deposits which banks offer u/s. 80C, can be utilized for deductions from taxable income u/s. 80C

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rama krishnan (12239 Points)
Replied 12 July 2017

you can make deposits out of exempted incomes also like agricultural income, dividend income, ltcg exempted as per 10(38) etc

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