Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(182814 Points)
Replied 28 June 2019
If you invest 50.000/- in tax saver (5 Years) FD, you are eligible to 80C deduction over the investment part. Accrued Interest over it is taxable.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 28 June 2019
1. The amount can be invested in Taxpayer deposit scheme to claim deductions u/s 80C.
2. The features of the scheme,
i) 5 years lock-in period
ii) Interest ranges from 6%-8% based on bank
iii) Interest earned is taxable under Income From Other Sources.
3. The maximum amount of investment that can be made in this is Rs. 1,50,000.
Please correct me if the above solution has an alternative view.
Gopi Chavan
(21 Points)
Replied 07 August 2019
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
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