Deductions from Total Income

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  1. RAJANEESH V R

    RAJANEESH V R New Member

    Situations:
    1) I monthly deposit Rs.2000 to post office account opened in my own name
    2) I monthly deposit Rs.1000 to post office account opened in the name of my daughter
    3) I invest Rs.36000 to Post Office Time Deposit in FY 2015-16
    Question :
    Shall we claim these contributions as deduction?
    If yes, how we can show this as a deduction from Total Income?
    How many year we can claim this,both monthly and Time deposit?
    kindly answer me immediately
     
  2. V K Khanna

    V K Khanna Active Member

    Investment under 5 yr time deposit qualifies for deduction under Sec 80C.
     
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