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80c exemption

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(Querist)
26 March 2015 Is term deposit eligible for exemption under section 80c which is deposited for 8 years and the redemption value is only claimed by the nominee
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 March 2015 redemption is not imp criteria the imp is that it must be 5 year tax saver deposit for becoming eligible for sec 80C deductio
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Rupesh Jain

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Rupesh Jain (Expert)
26 March 2015 it shold be 5 year tax saving fdr then you get deduction u/s80C
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Arpit Shah

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Arpit Shah (Expert)
26 March 2015 Tax-saving fixed deposits (FDs) of scheduled banks with tenure of 5 years are also entitled for section 80C deduction.

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