ITR1 help needed
I had taken up a 5 year tax saver FD in previous financial year. Due to some weird reason, my company had rejected it and this investment under 80C does not reflect in Form 16. Now while filing ITR, should I add this amount of FD under 80C?
Check the FD certificate (online/physical) it should specifically say it is a tax saver FD and early withdrawal is not possible.
If it says so, you can add it to the 80c claim while filing ITR.
Just keep a pic of the certificate for record for next 7-8 years. This should ideally be done for everything you claim in ITRs. IT dept sends out intimations asking you to provide a reason etc in case they feel something is amiss.
The physical copy specifically mentions after the title: "Received with thanks a Fixed Deposit as detailed below for investments U/S 80C of the Income Tax Act, 1961". It doesn't mention anywhere "Tax saver FD", though it is implied because of 80C, correct? Should I be worried if I add this to ITR?
Jordon Carmden
Stealth
a year ago
yes, just add that amount in 80C
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