Hypothicated bank fd eligible for 80c
This query is : Resolved
15 February 2015
I got rs.50000 fixed deposit for 5years from bank on 08/2014.later on 01/2015 I took loan from bank against that 50000 fixed deposit. my question is can I claim that hypothicated fixed deposit as 80c deduction or I can't as it is hypothicated....
15 February 2015
FD's covered under'Bank Term deposit Scheme,2006' is eligible for 80C deduction. Clause 9 of the said scheme says the term deposit shall not be pledged to secure loan or as security to any other asset.
In view of that, you are not entitled for 80C claim.
In view of that, you are not entitled for 80C claim.
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