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Fixed deposit

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(Querist)
13 March 2012 DEAR ALL

ON FIXED DEPOSIT AMOUNT CAN WE TAKE DEDUCTION IN TAXABLE INCOME......
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Rajnikant Vadigoppula

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Rajnikant Vadigoppula (Expert)
13 March 2012 if The FD is for more than five years and which specifies for deduction under income tax.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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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