Post office time deposit

Neethu (CA) (138 Points)

17 March 2014

Is Monthly payment towards post office deposit available for deduction U/s 80C?. Period is 5 Years. Amount is Rs.1000 p.m

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6 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 17 March 2014

Investing in 5-year post office time deposit is allowable deduction u/s 80C.

Neethu (CA) (138 Points)
Replied 17 March 2014

Is Deduction available only to the person making payment?

Vikas (Practicing Chartered Acountant) (79 Points)
Replied 18 March 2014

if you are talking abour Post Recuring Deposit then No Deduction U/S 80C. only time deposit is eligible for dedution

C.A.SUNIL HUKKERI (CHARTERED ACCOUNTANT) (58 Points)
Replied 18 March 2014

Only 5 year time deposit is available upto limit of Rs 1 Lac

(Guest)

RD deduction also available u/s80c

Ajay Balasubramanian (ACA) (114 Points)
Replied 29 July 2014

RD is not available for Section 80 C deduction...only Time deposit is available for deduction...

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