Term deposit - 80c

sivakumar (Asst Manager - F&A) (324 Points)

05 April 2015  

Act says for term deposit 'Any term deposit for a fixed period of not less than five years with the scheduled bank'.

If i invest in RD for 5 years period , may i avail tax exemption. 

Because the act has not mention anywhere as Fixed Deposit. It mentionedonly fixed period. pls suggest.