Post office time deposit

Tax queries 478 views 6 replies

138 Points Joined October 2012

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

Replies (6)

Wealth Manager

5293 Points Joined December 2008

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

138 Points Joined October 2012

Is Deduction available only to the person making payment?

Practicing Chartered Acountant

79 Points Joined January 2013

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

CHARTERED ACCOUNTANT

58 Points Joined October 2012

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

Guest

RD deduction also available u/s80c

ACA

114 Points Joined December 2008

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

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