15 July 2014
sir/mam,can an fixed deposit made for less than 5 years of period but after renewing it crosses 5 year period be claimed for 80 c deduction ? and is FD made on family members is eligible for deduction under 80c ?
15 July 2014
No. In the given case deduction u/s 80C can not be claimed. FD has to be done specifically as Tax Saving FD of 5 years. This is a different category if FD.