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80C Deduction inrespect of fixed deposits

This query is : Resolved 
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(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
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CS LLB Pulkit Gupta

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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.
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CA. Lohith Jagadeesh

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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
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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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