Investment in fdr

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Garre susmitha (Querist)
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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.

Hemant Kumar

Hemant Kumar (Expert)
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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

Garre susmitha (Querist)
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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

Hemant Kumar (Expert)
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10 January 2014 Yes you can.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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).

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