Deduction u/s 80c - term deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 March 2012
Dears,
i want to know that i we deposit in term deposit for 5 year. it is necessary to mention the purpose of Term deposit on receipt by bank or not. and i also wat to know that the term deposit should be only in Nationalised bank or any scheduled bank
i want to know that i we deposit in term deposit for 5 year. it is necessary to mention the purpose of Term deposit on receipt by bank or not. and i also wat to know that the term deposit should be only in Nationalised bank or any scheduled bank
24 March 2012
For the purpose of section 80C(2)(xvxi), the fixed deposit should be in a scheduled bank under the "Bank Term Deposit Scheme,2008".
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