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Does the tax deduction under Section 80 C apply to recurring deposits?

Question

Does the tax deduction under Section 80 C apply to recurring deposits?

Expert Answer
Answered 25 Nov 2022
1995 views

The recurring deposit is not covered by section 80C but the five-year fixed deposit is. Other investments covered by section 80C include principal repayment of house loan, tuition fee, ELSS, LIC, etc.

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