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Fixed deposit

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18 January 2012 what is Spectrum Fixed Deposit scheme?? Can i claim deduction under 80c for such deposit??
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U S Sharma

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U S Sharma (Expert)
18 January 2012 https://www.pnbindia.in/en/ui/SpectrumFixedDepositScheme.aspx


these deposits does not qualify under sec 80C
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
18 January 2012 Deduction under section 80C (2)(xxi) will be allowed if the fixed deposit is covered under "Bank Term deposit Scheme,2006". Therefore, the depositor has to ascertain the scheme before depositing money to avail the benefit of the referred section.
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