Fixed deposit
This query is : Resolved
13 March 2012
DEAR ALL
ON FIXED DEPOSIT AMOUNT CAN WE TAKE DEDUCTION IN TAXABLE INCOME......
ON FIXED DEPOSIT AMOUNT CAN WE TAKE DEDUCTION IN TAXABLE INCOME......
13 March 2012
if The FD is for more than five years and which specifies for deduction under income tax.
14 March 2012
If the deposit is under "Bank Term Deposit Scheme,2006 and for a maturity period of not less than five years, then deduction can be claimed under section 80C(2)(xxi)of the Income tax Act,1961.
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