80c exemption
This query is : Resolved
Giri Padmakar
(Querist)
26 March 2015
Is term deposit eligible for exemption under section 80c which is deposited for 8 years and the redemption value is only claimed by the nominee
26 March 2015
redemption is not imp criteria the imp is that it must be 5 year tax saver deposit for becoming eligible for sec 80C deductio
Rupesh Jain
(Expert)
26 March 2015
it shold be 5 year tax saving fdr then you get deduction u/s80C
Arpit Shah
(Expert)
26 March 2015
Tax-saving fixed deposits (FDs) of scheduled banks with tenure of 5 years are also entitled for section 80C deduction.
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