80C Deduction
This query is : Resolved
11 January 2011
Whether Fixed Deposit of Rs. 1 Lac kept in Bank for a period of 5 years is eligible for deduction u/s 80C?
Regards,
devendra
Regards,
devendra
Vivek Raju P
(Expert)
11 January 2011
yes it is eligible under sec 80C
Message likes :
1 times
11 January 2011
Provided it is a scheduled bank and the deposit is made under the " Bank Term Deposit Scheme,2006".
Message likes :
2 times
11 January 2011
Agree with Experts ! U Can Claim Deduction only if it is a scheduled bank and the deposit is made under the " Bank Term Deposit Scheme,2006".
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