Is it compusorily required to do fixed deposits only in tax saver fixed deposits or any fixed deposit for a period of more than five years in the scheduled bank is eligible
05 March 2011
See I will suggest you to choose other options like PPF or NSC for 80 C purpose. Otherwise for claiming 80C deduction you have to make Tax saver FD that have lock-in period of 5years.
05 March 2011
If you choose FD, pl make sure that the deposit is under BANK TERM DEPOSIT SCHEME, 2006 so as to avail 80C deduction,being a compulsory requirement.
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