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IT exepmtions/int. on fixed deposits etc.

(Querist) 15 July 2008 This query is : Resolved 
my sister is retired SR CiTIZEN having pension;returns from ppty-fixed depo.-dividends from shares.at present not taxable.she wants to invest in bank's fix-depo. for 5yrs. The plan is like this;-to invest rs5L for 5yrs. to invest the INTEREST EARNED [mothly/Q]in recurring depo. Q.whether int. earned/deposited in the A/C &then directed to RD.would be ADDED to her income &calculated as total income for that yr.&taxed ?if is so kindly advise tax plannig.
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Guest (Expert) 16 July 2008
Even for Sr. Citizen, the interest is taxable, even if it is diverted to RD.
She can claim 80C for only one lakh.

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