80C
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 March 2011
I have invested Rs.100000 in fixed deposit for 5 years in the name of wife.Pls let me know can i get 80C benefit for the same?
17 March 2011
Tax-saving fixed deposits (FDs) of scheduled banks with tenure of 5 years are entitled for section 80C deduction. So please confirm from the bank whether the deposit is entitled to deduction u/s 80C.
17 March 2011
You can't claim deduction since the deposit is not in your name. For full details in this regard ,pl see CBDT Notification 203/2006 dated 28/7/2006.
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17 March 2011
Sorry i overlooked this aspect...Yes if eligible for deduction, deduction u/s 80C will be available to the person in whose name deposit is made.
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