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khyati

khyati (Querist)
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19 March 2009 fixed deposit investment in nationalised bank for long term is eligible u/s 80 C

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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19 March 2009 Yes. Its eligible but only when it is for more then 5 years TD.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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19 March 2009 Deposit for more than 5 years as per the scheme framed by central Govt. (Not all the FDRs)

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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19 March 2009 i support MR. Sharma

K V Subba Rao

K V Subba Rao (Expert)
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19 March 2009 Tenure of FD is not the criterion to decide eligibility for tax deduction. FD should have tax deduction feature. All FDs having tax deduction eligibility are for fixed term of five years.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 March 2009 The FD should necessarily be under the 'Bank Deposit Scheme,2006' so as to qualify for deduction u/s 80C. For more details of the said scheme pl refer CBDT Notification 203 dt 28/7/2006.

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