80 C
This query is : Resolved
19 March 2009
fixed deposit investment in nationalised bank for long term is eligible u/s 80 C
19 March 2009
Yes. Its eligible but only when it is for more then 5 years TD.
19 March 2009
Deposit for more than 5 years as per the scheme framed by central Govt. (Not all the FDRs)
19 March 2009
i support MR. Sharma
19 March 2009
Tenure of FD is not the criterion to decide eligibility for tax deduction. FD should have tax deduction feature. All FDs having tax deduction eligibility are for fixed term of five years.
19 March 2009
The FD should necessarily be under the 'Bank Deposit Scheme,2006' so as to qualify for deduction u/s 80C. For more details of the said scheme pl refer CBDT Notification 203 dt 28/7/2006.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
Trending Online Classes
CAclubindia
