direct tax (deduction u/s 80c)
This query is : Resolved
Querist : Anonymous
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.
Q- but after payment of such loan , can we allowed such term deposit for deduction.
CMA Ramesh Krishnan
(Expert)
09 September 2010
It will be allowed in the year of deposit only
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