Investment in fdr
This query is : Resolved
Garre susmitha
(Querist)
10 January 2014
Respected Sir/ Mam,
Can We claim Deduction U/80C for the investment made in FDR in Central govt Scheme.The Investment is on the name of assessee's spouse.Is it possible to claim the deduction for assessee.
Can We claim Deduction U/80C for the investment made in FDR in Central govt Scheme.The Investment is on the name of assessee's spouse.Is it possible to claim the deduction for assessee.
Hemant Kumar
(Expert)
10 January 2014
Tax-saving fixed deposits (FDs) of scheduled banks with tenure of 5 years is entitled for section 80C deduction.
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Garre susmitha
(Querist)
10 January 2014
ok sir,Can I claim the deduction if Investment is in the name of assessee's spouse.thanks in advance.
Hemant Kumar
(Expert)
10 January 2014
Yes you can.
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10 January 2014
Assessee can't claim 80C deduction if the 5 year fixed deposit of scheduled bank is in the name of spouse.
Ref:- Corollary to section 80C(4).
Ref:- Corollary to section 80C(4).
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