Can i get exemption for my bank interest under section 80C of incometax act?

Question

Can i get exemption for my bank interest under section 80C of incometax act?

Answer 1

No. Bank interest is not eligible for exemption under section 80C .

Infact bank interest is your income from other sources & attracts income tax at your personal rates.

Answer 2

No, bank interest is not deductible.

Read about India Income Tax Investments based Deductions from the Income under: Section 80C, 80CCC, 80CCD, 80CCE http://mytaxes.in/index.php?topic=24.0

Answer 3

why. when no one in india is exempted from tax on this income how can u alone get an exemption.  no sir, this is not possible