Bank fixed deposit deduction u/s80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2012
Sir
maine bank se 500000.00 ki fixed deposit karali hai mujhe incometax mein u/s80c mein rebate milegi.meri post office mein rd and mis chal rahi hai kya iski 80c mein deduction milega.
maine bank se 500000.00 ki fixed deposit karali hai mujhe incometax mein u/s80c mein rebate milegi.meri post office mein rd and mis chal rahi hai kya iski 80c mein deduction milega.
10 January 2012
In order to claim Fixed deposit u/s 80c the the same should be tax saving fixed deposit.
The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal. (b) Year is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. e) Term deposit under this scheme cannot be pledged to secure a loan.
Not every Fixed deposits opened is eligible for 80C deduction. Ask the bank to open a tax saving fixed deposit.
The salient points of the scheme notification are; (a) Fixed tenure without premature withdrawal. (b) Year is defined as a financial year. (c) Amount limited to Rs. 100 minimum and Rs. 100,000 maximum. (d) Bank will issue a Fixed Deposit Receipt that shall be the basis of claiming tax benefit. e) Term deposit under this scheme cannot be pledged to secure a loan.
Not every Fixed deposits opened is eligible for 80C deduction. Ask the bank to open a tax saving fixed deposit.
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