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19-08-2010, 09:16 PM
Though of not much importance at this point of time as time for filing IT returns is over, I am posting this.

Some of my friends say that postal RD is exempted from IT under SEc 80 C. Is true (Though I have been remitting a substantial amount for this, I have not included this because my colleagues say that this is not exempted).

Prasanna Kumar

19-08-2010, 10:06 PM
Dear friend
Its not true as for as I know. If you have not included it, you are not at loss. In any case, if you get it confirmed that this is exempted under 80-C, you can file a revised IT return by including it by 31st march, 2011. There is no problem in filing revised return. But first confirm the correct position. Mistakes commited in IT return can be rectified, this I can assure you.

20-08-2010, 06:49 AM
Dear Jithendraji,
Thank you very much for the prompt reply.

Prasanna Kumar

20-08-2010, 09:58 AM
Postal RD doesnot qualify for rebate under Section 80-C. Only PPF/NSC qualify