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80C Deduction

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(Querist)
11 January 2011 Whether Fixed Deposit of Rs. 1 Lac kept in Bank for a period of 5 years is eligible for deduction u/s 80C?
Regards,
devendra
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Vivek Raju P

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Vivek Raju P (Expert)
11 January 2011 yes it is eligible under sec 80C
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 January 2011 Provided it is a scheduled bank and the deposit is made under the " Bank Term Deposit Scheme,2006".
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CA Ankit Gulgulia (Jain)

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CA Ankit Gulgulia (Jain) (Expert)
11 January 2011 Agree with Experts ! U Can Claim Deduction only if it is a scheduled bank and the deposit is made under the " Bank Term Deposit Scheme,2006".

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