Is deposit with a co-op bank eligible for 80c

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Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2012 Dear Sirs,

Is deposit made with a co-operative bank eligible for deduction u/s 80C of the Income Tax Act, 1961?

CA Pooja Agarwal (Expert)
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09 October 2012 yes if deposits are made in tax saving schemes(genrally for a period of five years or more)

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2012 Thank. But please clarify whether it will be OK, if the bank is not a scheduled bank.

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