Can i claim full amount as deduction u/s.80c

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Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2014 fixed deposit(tax saving benefit) on 12/12/2013 is Rs.100000/- can i claim full amount as deduction u/s.80C of the income tax act.

Nikhil Kaushik (Expert)
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17 June 2014 yes you can claim the full deduction.

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Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2014 can i claim every 5 years deduction u/s.80C

Nikhil Kaushik (Expert)
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17 June 2014 only in the year of deposit..

Nikhil Kaushik (Expert)
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17 June 2014 if you invest again next year, you can again claim deduction..

Querist : Anonymous

Querist : Anonymous (Querist)

17 June 2014 "Term deposit” means a deposit with a scheduled bank for a fixed period of not less than five years. This is my doubt sir

CS,CA F,Numrologi TusharSampat (Expert)
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17 June 2014 it means for a particular period deposit and not necessary only with schedule bank only.

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