80 c exepmtion

No , exemption is available only on FD for 5 years or more. When you go to a bank to open a tax saving FD, please mention it upfront that you want a tax saving FD and not a regular FD – this is because banks offer these tax saver FDs as separate and distinct from regular FDs.

I have FD for five years Rs.100000/- So how many amount deducation every year.

Hirday, the deduction is available only if

1.while opening the FD, it was clarified to the bank that it is a tax saver FD.

2. deduction is available only in the year in which the deposit is made.not in subsequent years

3. interest income on this FD is taxable income.