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bank fixed deposit deduction

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 July 2014 sir/mam,can an fixed deposit made for less than 5 years of period but after renewing it crosses 5 year period be claimed for 80 c deduction ? and is FD made on family members is eligible for deduction under 80c ?

15 July 2014 No. In the given case deduction u/s 80C can not be claimed. FD has to be done specifically as Tax Saving FD of 5 years. This is a different category if FD.

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 July 2014 thank you sir, but can fd made on family members be claimed as deduction?





15 July 2014 FD made in assessee name only can be claimed as deduction.



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