Query:Are all 5-yr FDs eligible for 80C dedn?
This query is : Resolved
Raju Chacko
(Querist)
23 July 2010
Hello, I have a query reg. a 5-yr Fixed Deposit made by me recently (i.e. in July 2010). I have invested Rs.50,000/= in a 5-year Fixed Deposit with a Tamilnadu State Govt. enterprise. Will this investment qualify for income exemption under Sec 80C for the current Financial Year i.e. for A/Y 2011-12 ? Thanks & regards, -Raju Chacko
23 July 2010
To avail benefit under section 80C, the amount should be deposited in fixed deposit account opened as per' Bank Term deposit Scheme,2006'.
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Raju Chacko
(Querist)
03 August 2010
Thank you for this important info. Can you name a few such qualifying FDs that are reliable to invest in? Thanks&warm regards,-Raju Chacko
CMA Ramesh Krishnan
(Expert)
03 August 2010
If you can ask any bankers they will give the details of list of Tax savings F.D scheme
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