U/s 80c

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jignesh (Querist)
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15 February 2017 Dear Sir,
I have made Fixed Deposit for 5 years as a locker deposit. Can we consider in 80C investment. Because employers has rejected he said "The document provided as FD for locker does not state about the tax benefit. Also, any deposit made for the locker is not covered U/S 80C". Please do the needful.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 February 2017 You should have made tax saving deposit for five years and asked your bankers treat it as deposit for lockers. The bankers will be agreeing for it. In such as case it will serve for dual purpose of 80c and locker deposit.
Only tax saving deposits for five years will be considered for 80c benefit.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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15 February 2017 Tax saving FD are only eligible for 80C deduction.

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