bank fixed deposit deduction
This query is : Resolved
Querist : Anonymous
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
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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