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direct tax (deduction u/s 80c)

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2010 " term deposite with schedule bank for period of 5 year is entitled for deduction u/s 80c. However if it is pledge as security no deduction shall be allowed "
Q- but after payment of such loan , can we allowed such term deposit for deduction.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
09 September 2010 It will be allowed in the year of deposit only
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