• Jan
  • 18
  • 2015

Investments which qualifies for deduction u/s. 80C

Article ID 21304 | Posted In Income Tax | , , | 128 Comments » Print Friendly and PDF

CA Sandeep Kanoi

CA Sandeep KanoiUnder this section, you can invest a maximum of Rs 1.50 lakh (1 Lakh upto AY 2014-15) and if you are in the highest tax bracket of 30%, you save a tax of Rs 45000. The various investment options under this section include:

Public Provident Fund (PPF):  Interest earned is fully exempt from tax without any limit. Annual contributions qualify for tax rebate under Section 80C of income tax. Contributions to PPF accounts of the spouse and children are also eligible for tax deduction. Balance in PPF account is not subject to attachment under any order or decree of court. But, Income Tax authorities can attach the account for recovering tax dues. The highest amount that can be deposited is 1,50,000. Tax bracket for PPF is EEE (i.e. Exempt,Exempt,Exempt). So contribution is exempted under 80C, Interest earned is tax exempted and withdrawal is also tax exempted.

One can withdraw the investment made in 1st year only in 7th year. However, loan against investment is available from 3rd financial year. If liquidity is not an issue, you should invest as much as you can in this scheme before looking for other fixed income investment options.

Life Insurance Premiums:
Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction. Please note that life insurance premium paid by you for your parents (father / mother / both) or your in-laws is not eligible for deduction under section 80C. If you are paying premium for more than one insurance policy, all the premiums can be included. It is not necessary to have the insurance policy from Life Insurance Corporation (LIC) – even insurance bought from private players can be considered here.

ID-10070651

Image courtesy of David Castillo Dominici at FreeDigitalPhotos.net

Equity Linked Savings Scheme (ELSS): There are some mutual fund (MF) schemes specially created for offering you tax savings, and these are called Equity Linked Savings Scheme, or ELSS. The investments that you make in ELSS are eligible for deduction under Sec 80C. Equity Linked Saving Schemes (ELSS) of mutual funds are diversified equity funds that have a lock-in period of three years and provide tax benefit. Since a major portion of the corpus is invested in equities / equity stock markets , the earning potential is higher (though at a higher risk) as compared to other tax saving investments. Investors can invest up to 1,50,000 in an ELSS fund and deduct the investment from their taxable income u/s 80C of Income Tax Act, thereby effectively reducing their tax liability. Long-term capital gains and dividends received on these investments are tax-free in the hands of the investor as per the current tax laws.

Provident Fund (PF) & Voluntary Provident Fund (VPF) : PF is automatically deducted from your salary. Both you and your employer contribute to it. While employer’s contribution is exempt from tax, your contribution (i.e., employee’s contribution) is counted towards section 80C investments. You also have the option to contribute additional amounts through voluntary contributions (VPF).

Home Loan Principal Repayment: The Equated Monthly Installment (EMI) that you pay every month to repay your home loan consists of two components – Principal and Interest.The principal component of the EMI qualifies for deduction under Sec 80C. Even the interest component can save you significant income tax – but that would be under Section 24 of theIncome Tax Act. Please read “Income Tax (IT) Benefits of a Home Loan / Housing Loan / Mortgage”, which presents a full analysis of how you can save income tax through a home loan.

Stamp Duty and Registration Charges for a home: The amount you pay as stamp duty when you buy a house, and the amount you pay for the registration of the documents of the house can be claimed as deduction under section 80C in the year of purchase of the house.

National Savings Certificate (NSC): National Savings Certificates popularly known as NSC is a saving bond , primarily used for small saving and income tax saving investment in India, part of the Postal savings system of Indian Postal Service (India Post). These can be purchased from a post office by an adult in his own name or in the name of a minor, a minor, a trust, two adults jointly.These are issued for five and ten year maturity and can be pledged to banks for availing loans.  The interest accrued every year is liable to tax (i.e., to be included in your taxable income) but the interest is also deemed to be reinvested and thus eligible for section 80C deduction.

Infrastructure Bonds: These are also popularly called Infra Bonds. These are issued by infrastructure companies, and not the government. The amount that you invest in these bonds can also be included in Sec 80C deductions.

Pension Funds – Section 80CCC: This section – Sec 80CCC – stipulates that an investment in pension funds is eligible for deduction from your income. Section 80CCC investment limit is clubbed with the limit of Section 80C – it means that the total deduction available for 80CCC and 80C is Rs. 1.50 Lakh.This also means that your investment in pension funds upto Rs. 1.50 Lakh can be claimed as deduction u/s 80CCC. However, as mentioned earlier, the total deduction u/s 80C and 80CCC can not exceed Rs. 1.50 Lakh.

5-Yr bank fixed deposits (FDs): Tax-saving fixed deposits (FDs) of scheduled banks with tenure of 5 years are also entitled for section 80C deduction.

Senior Citizen Savings Scheme 2004 (SCSS): A recent addition to section 80C list, Senior Citizen Savings Scheme (SCSS) is the most lucrative scheme among all the small savings schemes but is meant only for senior citizens. An individual who has attained the age of 60 years or above on the date of opening of a/c or an individual who attained the age of 55 years or more and who has retired under VRS/SPL. VRS, can open an account individually or jointly with spouse. A retired personnel of Defence Services (excluding Civil Defence Employees) can subscribe to the scheme irrespective of the age limit subject to fulfilment of specificed conditions. Account can be closed after expiry of 5 years from the date of opening of account and account can be extended for next 3 years. Premature closure is permissible after one year subject to certain conditions. Deposits qualify for deduction u/s 80-C of Income Tax Act on the deposits made in new accounts opened on or after 8th December 2007.

Please note that the interest is payable quarterly instead of compounded quarterly. Thus, unclaimed interest on these deposits won’t earn any further interest. Interest income is chargeable to tax.

5-Yr post office time deposit (POTD) scheme: POTDs are similar to bank fixed deposits. Deposits in 5 year time deposit qualify for deduction under section 80-C of Income Tax Act on the deposits made in new accounts opened on or after 8th December 2007. The Interest is entirely taxable.

NABARD rural bonds:  The Finance Act, 2007 inserted clause (xxii) in sub-section (2) of section 80C of the Income-tax Act to provide that deposits made in  bonds issued by the National Bank for Agriculture and Rural Development, as the Central Government may, by notification in the Official Gazette, specify in this behalf, shall be eligible for deduction under the said section. There are two types of Bonds issued by NABARD (National Bank for Agriculture and Rural Development): NABARD Rural Bonds and Bhavishya Nirman Bonds (BNB). Out of these two, only NABARD Rural Bonds qualify under section 80C.

Unit linked Insurance Plan: ULIP stands for Unit linked Saving Schemes. ULIPs cover Life insurance with benefits of equity investments. They have attracted the attention of investors and tax-savers not only because they help us save tax but they also perform well to give decent returns in the long-term.

  • Contribution for participating in the unit-linked insurance plan (ULIP) of LIC Mutual Fund (i.e. Dhanraksha plan of LIC Mutual Fund)
  • Payment for notified annuity plan of LIC (i.e. Jeevan Dhara, Jeevan Akshay New Jeevan Dhara ,etc ) or any other insurer.
  • Contribution for participating in the Unit-Linked Insurance Plan (ULIP) of Unit Trust of India.

Tuition Fees :- Any sum paid as tuition fees to any university/college/educational institution in India for full time education. Nowadays most of  income tax payee have to incur quite high payments towards the education fees of their children. The expenditure incurred on education fees is eligible for a deduction under Income Tax Act, So, if you are incurring expenditure towards education fee of your children, please check whether these are eligible for deduction under the IT Act.

Sukanya Samriddhi Account – Sukanya Samriddhi Account Scheme is a small deposit scheme for girl child, as part of ‘Beti Bachao Beti Padhao’ campaign, which would currently fetch yearly interest rate of 9.1 per cent and provide income tax deduction Under section 80C of the Income Tax Act,1961.  Interest on such account is taxable as Income from Other Sources.  –Sukanya Samriddhi Account – Tax & Other benefits
(Republished with amendments)

Read our Earlier post for detailed Analysis of Section 80C

All about deduction under section 80C and tax planning


  • NARAHARI

    whether 6 year time deposit with post office qualify 80c ????

    • Sushil

      Yes Mr Narhari, 5 year time deposit with post office qualify 80c

  • Rajeswari Raj

    I opened PPF account in March 2001. It will be completing 15 years in March 2016. Can I withdraw the whole amount as i do not want to extend for another three years.
    Or can I withdraw only 50% of last preceding financial year?

  • manish

    Kya 80c ke1ke1.5 lakh keep a lava Aur Koi diducti.milta hai

  • Deeksha

    Sir,

    i want to know that, can we pay more than Rs.20000/- in cash to a general insurance company? can we claim this amount as deduction u/s 80C ?

    • Sushil

      General Insurance (Like- Mediclaim, Accidental) doesn’t qualify for 80C. It qualifies for 80D.
      And Premium to any Insurance company can be paid more than Rs 20000/-.

  • shashank

    tell me how a private limited company have registered in NPS Scheme.. and how company contribute NPS for employees… pls explain

  • shashank

    father invest in mutual funds on the behalf of daughter so who will have claimed a deduction of mutual fund u/s 80C… father or daughter

  • Umesh Naik

    Are Mutual fund investment tax free

  • srinivasan

    yes subject to a maximum of Rs.1,50,000

  • srinivasan

    only what is paid to you

  • V kumar

    On my retirement , I have withdrawn all my PF and VPF within the FY (i.e. by Nov’14)
    Now I want to know that whether I’m eligible for tax benefit for my PF and VPF deducted during the FY (April to Oct) while filling my ITR ?

  • jitender

    sir i m a retired defence personal and want to invest my hard earned money to post office scheme scss. pls guide me how much i shud invest so that i can avail the tax benefits.
    i dont want that interest earned is taxed.

  • Chandrasekharan DS

    I have a Senior citizen savings scheme deposit which will be maturing in the month of Aug 2015. There is a provision to extend the deposit for a further period of 3 years. In that case, please clarify whether I would be eligible for deduction u/s 80C for this financial year for that amount.

  • Vijaya Lakshmi S

    Dear sir,

    I want to know if investment in listed companies (equities) qualify for exemption under section 80C.

  • Amit kumar

    Sir I want to know whether my CTC is the taxable amount or the salary which gets credited every month?

    • Anjoy Kumar Roy

      CTC

  • A Ranganathan

    sir

    i would like to know reinvested interest deducted under 80C

  • ashok

    sir , kya aditional pf bhi insvstment me include ho ga ?

  • selvaraj

    Dear Sir, Whether service tax paid on PLI premium included in savings under section 80C

  • GUPTA V

    Sir,

    I want to know whether investment in “PACL LTD.,” known as pearls exempted from section 80C of Income tax Act.1961

  • sanjay

    hii,
    i m a central govt. employee…
    is the employees contribution and employer contribution amt under NPS …is saving under rs 100000 …AY 2013..14?

  • mr.muralirajdp

    Respected sir

    Please enlighten me regarding investing in ELSS INVESTMENT in minor & also in my name weather i can clain both under 80c section with in the limit of 1.5 lakh

    regards
    muralirajdp@yahoo.co.in

  • mr.muralirajdp

    Respected sir

    Please enlighten me regarding investing in ELSS in my minor daughter’s name & also in my name can i claim both the investment under 80 c ?

  • adesh shinde

    is post office recurring deposit eligible for 80c ?

  • deepika

    Good Afternoon!
    when investment is made in rpf and also ppf can deduction be claimed in both cases??

  • deepika

    good afternoon sir!
    when both

  • Manish Ca

    150000/-Fdr made for five years is qualify for 80 C or restricted to 100000/- as such.

    Thanks
    9165445000

  • Thomas

    The Fundamentals of the Indian Economy demand that since the cost of living has gone up considerably the present limits under Section 80 C are obsolete and need revision

  • PRAMOD KUMAR DASH

    Hi ,
    I would like to know 10 year of RD A/C from BANK OF MAHARASHTRA bank can have 80C deduction. Please let me know

  • ranjeet kumar

    Sir,
    I want to know that May i Claim tax deduction under 80C against Investment done in Reccuring deposit at State Bank of India.

  • anil aggarwal

    Dear Sir,
    Whether service tax paid on PLI premium included in savings under section 80C

  • s.k.misra

    Sir,

    I would like to know, can a person claim deduction u/s. 80C, for the deposit under sukanya sambridhi account for his grand daughter. pls advice

  • elsa

    Wheather PLI SERVICE TAX can be included as savings under 80C?

  • vinay kumar

    what about recurring deposit that also come under 80C.

  • vipin

    sir i invested Rs. 300000 in chawl. is it liable for 80C deduction

  • Devdatta

    Sir,
    Not clear with Infra bonds. Those deduction of Rs 20,000/- was under 80CCF over and above the 80C limit.
    Also, the tax deduction (80CCF) is not available now.

  • Shobhnath Singh

    Dear Sir,
    I would like to know that there is any Tax Exemption on Tractor loan for Agriculture purpose?
    Thanks and Regards,

    Shobhnath Singh

  • saksham kapoor

    I would like to know expenditure incurred on renovation of home , is entitled for Income tax rebate or not.

  • birendar

    Sir, I have investment in One of aatharv4u infra & agro ltd. paid the amount every months 1000 in the name of wife and it is in locking period for 3yrs so can i claim deduction u/s 80c, every year (3yrs) or it should be for 1 year in which i have paid. Pls advice. Thx

  • Venkat Reddy

    I am a government employee. I am in new pension scheme. Shal I show the cps deduction in 80c or it is different.

  • Shyam Kumar

    Sir,

    Thank you so much for the valuable information, I would like to know whehter RD (Recurring Deposite) is eligible under 80C

  • Kanhaiya Chaudhary

    Can HUF take the benefit of tuition fee of any member of HUF

  • kailash kumar shaw

    thank you very much for your so high knowledgable things.

  • RAKESH

    I WANT TO WITHRAWL MY EPF WHICH WAS DEDUCTED BY COMPANY IN LAST TWO YEARS & NOW I HAVE RESIGN FROM MY JOB IS IT TAXABLE INCOME IF I WITHRAWL

  • Vedika Bhangre

    Thank you
    This information is very useful.

  • Mohd Sageer

    i want to know whether person claimed tution fees if he paid for his own higher education fees. under section 80C

  • chandrashekar P N

    Is it a must that FD in bank must be under tax saving scheme
    Or is it enough if the deposit for is for
    5 years . some banks do not give additional
    Benefit for senior citizens under tax
    Savings scheme.

  • Govardhan

    I would like to know, if the person close the housing loan before the time period is it applicable for claim deduction under 80C.

  • Himanshu

    Hi ,
    What would you suggest , what is the best option to invest for qualifying for 80C , so that our money is also saved and we don’t have to keep our money stuck for too long ?

  • Ajay Malhotra

    Lic has launched varistha pension policy for sr citizens. Is it will be under section 80 c

    • Rajeswari Raj

      rajeswari raj
      rajeswariraj2008@gmail.com
      I want to get answer for the question. Is the investment under LIC’s Varishta Bima Pension Plan elegible for investment under section 80C

  • Mehul Damania

    I have purchase NSC in the name of my son who is minor, just wanted to know whether i can claim deduction under section 80 c

  • Vadivel

    Loan taken in joint name can be claimed for deduction in the hands of first holder of the loan and not the joint holder.

  • manimegalai

    whether housing loan taken in joint names of self & spouse are eligible for sec 24 & 80 C in the hands of both(property in the name of self)

  • subhadip ghosh

    sir,
    i want to know that if i purchased n.s.c along with my mothers name as first applicant and second name to me then if i able to tax deductions benefit under 80 c or not?
    from
    Subhadip Ghosh

  • sarath valsalan

    Sir,
    I would like to know if i can claim benefits for the amount put in PPF in this Financial year if i have closed the PPF.

  • sanjay

    Can I claim Postal Life Insurance premium for tax saving under Sec. 80c

  • vimal

    Dear Sir,

    i want to know if i have taken lic policy in my name and my husband paid the premium amount then who can claim the tax benefit also want to know who cab pay premium for other if the policy in his/her name

  • svvarma

    Tuition fees paid by the Grandparents for their grandchildren whether can be claimed as deduction under Section 80C

  • jai

    Sir
    I want to know that national saving institue govt of india covere in section 80 c or not

  • RAMESH L BHANUSHALI

    A person is getting full time education and taking home tuitions at spare time in addition to that he is having interest income, total income become taxable,He can claim the amount paid to college for himself , can he claim that amount u/s 80C?

  • Kulbir Verma

    I have booked a flat which is under construction and I have taken a home loan on that flat. Can I avail tax benefit on that loan? What is actual law to avail tax benefit on home loan? Please clarify.

  • Amar

    Hi ,

    I would like to know 5 year of RD A/C from HDFC bank can have 80C deduction. Please let me know

  • Romesh

    My wife has a savings A/C in SBI and I wanted to do a FD for my son. Will I benefit from the tax exemptions as the A/C is not in my name?

  • N.V.B.RAO

    Sir

    I have made deposit in monthly recurring deposit with Post office. I would like to know, deposit may allow for deduction U/s 80C or not?

  • R K Mundhra

    I want to deposit Rs 100000/ each to my two minor daughter’s P P F a/c. Please let me know if I am entitled to deduction u/s 80C and also am I entitled to interest on the said deposits.

  • Venkatesh

    Hi Sir,

    I just want to know, if the interest income of Fixed deposit exceeds the exemption limit of 200000, say for example if I get 2.5 lacs as interest from FD. Can I get tax exemption under 80C, if I invest the rest 50000 in any tax saving mutual fund. That is till 2Lacs tax is nill, and if I invest the rest 50thousand in mutual fund, I can get tax exception under 80C on full interest amount?. Please help

    Regards
    Venkatesh

  • Anant Dhavale

    The Contribution to National Pension Scheme by Individual is tax exempted but under which section exactly?

  • mitul shah

    hi sir,

    if i invest in 80 c through my son minor account in mutual fund elss scheme, i can claim in my 80c tax exemption limit

  • SACHIN TYAGI

    SIR
    I PURCHASED A PLOT FOR MAKING HOUSE AND PAID RS.43500/- FOR STAMP DUTY AND 10100/- FOR REGISTRATION ON 28TH FEB,2014. CAN I CLAIM THIS FOR THE INCOME TAX EXEMPTION UNDER SEC 80C. AS I HAVE ALREADY COMPLETED MY INVESTMENT FOR THIS YEAR SO CAN I CLAIM THIS AMOUNT FOR THE NEXT FINANCIAL YEAR.

  • rajneesh

    sir ,i whould like to know,that can a person take deduction of 80c when he paid lic premium by mode of cash payment.

  • Ganesh

    I am a salaried person and couldn’t make timely submission of about 40k proofs to claim 1lakh 80C benefits from office.
    Now, I have all proofs to claim complete 1lakh 80C benefits, but its too late for office submissions but instead it is time for IT returns.
    Can I account this during IT returns now and claim a refund ?

  • Nagendra

    Interest paid on delayed payment of Insurance premium is not allowable U/S 80 C as deduction

  • Rajendra

    Whether Interest paid on delayed payment of Insurance premium is allowable U/S 80 C

  • Praveen

    Hi,
    can you please let me know if i can invest in Tax saver FD in my spouse’s name and claim exemption for it ?? i remember reading it somewhere in the internet.

    Thanks

  • praveen

    R/sir/madam

    i would like to know that 5 year post office recurring deposit is covered under tax rebate or no and if it covered then it comes under which section.

    this is in name of my wife

    can i take rebate of that or not.

  • naresh

    sir,
    i would like to know, the post office recurring deposit account can comes under tax deduction.

  • hem raj

    repayment of ppf instalment is taxable or not

  • karteek

    sir,
    An assessee is having a deposit with him, but is in the name of his sister, the amount was invested by him only in that deposit.
    Whether that assessee can claim exemption under section 80 c for the amount he deposited in that fixed deposit.

  • sujata james

    I have a to know whether the amount invested in post office recurring deposit eligible for tax deduction under section 80

  • Mahesh Kumar

    Sir,

    I had already submitted my investement proof in my company which i had declared in the beginning of the fin year 2012-13.

    But I have taken 2 different insurence policies in the last week of Feb 2013.

    Can i declare the 2 policies in next financial year 2013-14?

  • ANAND

    Sir,

    I have investment in One of ELSS mf . & paid the amount last yr and it is in locking period for 3yrs so can i claim deduction u/s 80c, every year (3yrs)
    or it should be for 1 year in which i have paid. Pls advice.

    Thx

  • A K Bhat

    i am pensioner annual gross pension 3.10lac also sen citzn ins prem yearly 25000 am i taxable home consum loan instalment rs 5200 commutition ded 2300 rs

  • VENKATESH

    WHETHER WIFE’S SSS PREMIUM DEDUCTIONS CAN BE CLAIMED AS DEDUCTION UNDER SECTION
    80 C BY HUSBAND?

  • KMURTHY

    dear sir,

    i have salry 28000 pm and monthly deduction pf can take exmpt tax or not and my wife is dependent on me so i paid monthly lic amont rs 2080 so i can take for exmpt tax…?

  • sumana

    do we get deduction of contribution made into VPF even if we have left service in that particular year.

  • Abhay

    can i claim deduction u/s 80C for principal Repayment for my housing loan for which construction is going on/property is purchased however not registered or possession not taken?

  • Sunil Kumar

    I have 5 year RD with HDFC bank. Could I claim 80C exemption on that or not?

  • shiva

    money deposited in father’s account who is senior citizen, will this deposit get exempt?

  • SC BANAWAL

    Dear sir
    I want to know section 80 TTA is applicable in yr 2012-13 assessment yr 2013-14 or not

  • ELAMARAN

    Dear Sir,

    i paid every month EMI Rs.3499/- for 2wheeler loan totaly 23month, incurred interest also, so can i get Tax exemptions. that has come under 80c? because am getting salary Rs.17600/-(Take home) per month.

    So please clarify and reply me

    Thanks&Regards
    Elamaran

  • chitrak

    dear sir / madam,

    U/s. 80 c FD in nationalized bank for fix for 5 years or more then 5 year allowed as deduction ?

    i have 1 FDR 50000/- for 108 month can i take benefit for deduction in f. y. 2011-12 ?

  • CA Sunil Behl

    An error above. Infrastructure Bonds are not covered u/s 80C but the invested amount in these bonds is deductible u/s 80CCF upto Rs. 20000, over and above the deduction u/s 80C. Nevertheless, the benefit u/s 80CCF is not available from AY 2013-14, unless the benefit is extended by Budget 2013.

  • HIMANSHU SHEKHAR

    Dear Sir,
    I have given money to my wife to invest in ELSS tax saver plan through Demat a/c
    in her name as she was working but remained on leave during the current FY.
    So she is not going to claim Tax exemption on the same investment from her employer.
    Can I claim Tax exemption on the same investment as the money has been given by me for
    investing in ELSS.

    Regards,
    Himanshu Shekhar
    9419161058

  • Sudhir Harsule

    I have a taken education loan of Rs. 25 lacs for my son for his higher studies at University of California, Santa Barbara, California, USA from Credla Financial Institute for MS (Master of Science). Will the interest accrued is expempted from the income tax? if yes, under which provision?

  • vinod kumar

    please make me detail about equity linked savings scheme

  • http://www.taxguru.in Subrahmanian

    Can i get tax exception for post office five year depoite payed for my mother by me

  • devendra kumar

    Is the tax rebate under 80DD, to the tax payee having a disabled dependent,  is given in lump-sum or the proof of expenses (80DDa) incurred on the medical treatment, rehabilitation, training  of the disabled etc.  or policy(s) for the benefits of dependent (80DDb) are required.

  • Shibashis

    Hello Sir,
    My employer deducts an amount from my monthly salary as EPF contribution. When I inquired about VPF contribution, my employer said our EPF trust does not have that feature, hence I can not make VPF deduction directly from my salary.
    Please tell me in my case how can I enroll for VPF contributions.
    Is it possible to directly do the contributions via RPFO (regional provident fund office)?

  • K K Nanda

    Under LIC premium, it is not mentioned whether premium amount paid for FY 2012-13 should be 10% of sum assured can be taken under 80C deductions. I was having opinion it is 20% earlier but from 01 04 12 it has become 10%. Will u please clarfy?

  • Chandrahash Chaudhary

    Crisp note on 80C on investments.

  • Adithya

    Doubt on this:”Any amount that you pay towards life insurance premium for yourself, your spouse or your children can also be included in Section 80C deduction.”

    I heard to get the tax exemption for the wife’s life insurance it has to be paid by the husband through his cheque. Is it correct? What should be the mode of payment to get wife’s investment tax exemption.

  • MAYUR

    Hi

    I have a Recurring deposit of Rs 10000 per month upto 5 years at 9.5% interest rate.
    Overall my investement will become Rs 6lkhs and Maturity amount is Rs 7,68,753
    Iam getting the additional amount of Rs 1,68,753 after 5th year.

    Since Recurring deposit amount is taxable ,My question is , should i pay tax once after 5th year Rs 16,875.3(Assume 10% tax bracket).
    Or should i pay tax every year 5 times by calculating the additional amount for evey year.

  • sagar datta

    i want tax planning for my cousin to save tax from housing loan and investments in life insurance scheme and to get maximum benifit by saving TDS from his salary.

  • Harshit

    Is it necesary for me to become Proposed Policy Holder (PPH) in policy to be taken on Son’s name to save tax u/s 80.C for me?

  • K.S Krishna Bhatta

    Is Peerless MF Child Plan eligible for deduction u/s 80c. And for HRA computation Purpose is D.A is also to be considered as part of the salary.

  • Amit Surpuriya

    For Investing in All Infrastructure Bonds – Contact – Amit Surpuriya – 9850873688 – Pune
    KSHITIJ FINANCIAL SERVICESMutual Fund | Tax Planning | Infrastructure Bond | 54EC Capital Gain Bond | Medi-Claim | Company Fixed Deposit

  • komal

    Can a daughter get IT deduction under 80c to the premium paid for ULIP policy taken in the name of mother for 2011-12 year?

  • Neha

    If an employee retires from the services of the corporation and wants to maintain his/her PF account with the employer self managed trust.Is employer can retain the PF amount of the Employee on superannuation and if yes for how long??????

  • Nimit

    Thank you very much it is very usefull
    once again thankyou
    Nimit

  • sandeepa

    i would like to know that 5 year post office recurring deposit is covered under tax rebate or no and if it covered then it comes under which section please let me know at the earliest

  • sandeepa

    i would like to know that 5 year post office recurring deposit is covered under tax rebate or no and if it covered then it comes under which section

  • http://taxguru.in/income-tax/investment-covered-under-section-80c-of-income-tax-act-1961.html Dinesh

    Hi,

    I Have Opened FD with UBI (Tax Saving) for 5 years but i do not want to claim it under section 80C in the current FY 2010-2011.

    Can i claim this FD in the next financial year (2011-2012)

    Dinesh

    • http://taxguru.in/members/admin/ admin

      No. Only in the year of investment the same can be claimed u/s. 80C.

  • Sachin Bhagat

    Hi, I am having two questions:
    1) I have signed an agreement for new flat in the month of Feb’11 can I claim this in the next financial year undet 80 C.
    2) I have availed a Home Loan in which I have my wife as co-applicant. What type of statement do I request from the Bank where I want to claim tax benefit for both of us. Is it only one statement provided by the bank and we can claim whatever proportion we are fine amongst us.

  • Sachin

    I booked a flat which is under construction & paid a stamp duty & registration charges also. so can i take a benefit of that deduction for my income tax calculations

  • Girish

    I have one query.
    My wife is dependent on me.
    So whether I get tax benefit on the PPF investment done on her name?

  • neeraj kumar sharma

    it’s neccessary to open a/c in post office. than i got nsc. please tell me.

    thanks & regards
    Neeraj Kumar Sharma

  • Anil

    pl update ur home page and specif the VPF max %

  • kapoor

    Is the investment in PF made from income of previous year eligible under 80C

  • DILEEP DUBEY

    sir ,i whould like to know,that can a person take deduction of 80c when he paid lic premium by mode of cash payment.

    • CA Sandeep Kanoi

      Yes . He can

  • Gurusubramanian

    whether service tax paid on the life insurance premium is eligible for 80C and rebly the same for 80D also?

  • Kalyanaraman

    Whether late payment fee paid to LIC also qualifies for 80C deduction, since the terms used are “any sum paid to ..keep in force” ?

  • Sreekanth

    Dear Sir,

    whenever resign my job after i will drawn the PF from the previous employer, it is taxable income or not.

  • susheel

    Sir,

    I would like to know, can a person claim deduction u/s. 80C, of the Stamp duty & regn. chgs. paid even he has not taken a loan but self financed it

    • CA Sandeep Kanoi

      Yes he can.