80C Deduction inrespect of fixed deposits
This query is : Resolved
Anil. bhake
(Querist)
05 March 2011
Dear Experts
Is it compusorily required to do fixed deposits only in tax saver fixed deposits or any fixed deposit for a period of more than five years in the scheduled bank is eligible
Please clarify
Regards
Anil. B
mail: chinna2226@gmail.com
Is it compusorily required to do fixed deposits only in tax saver fixed deposits or any fixed deposit for a period of more than five years in the scheduled bank is eligible
Please clarify
Regards
Anil. B
mail: chinna2226@gmail.com
CS LLB Pulkit Gupta
(Expert)
05 March 2011
See I will suggest you to choose other options like PPF or NSC for 80 C purpose.
Otherwise for claiming 80C deduction you have to make Tax saver FD that have lock-in period of 5years.
Otherwise for claiming 80C deduction you have to make Tax saver FD that have lock-in period of 5years.
CA. Lohith Jagadeesh
(Expert)
05 March 2011
HI,
AGREED WITH THE EXPERT
Regards
CA.LOHITH.J
B.com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
AGREED WITH THE EXPERT
Regards
CA.LOHITH.J
B.com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
05 March 2011
If you choose FD, pl make sure that the deposit is under BANK TERM DEPOSIT SCHEME, 2006 so as to avail 80C deduction,being a compulsory requirement.
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