Deduction for Bnak FD

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CA Suresh Paghdar

CA Suresh Paghdar (Querist)
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26 March 2008 Amonut Deposited in Co-Operative Bank for five year is eligible for Deduction u/s 80c

chetan soni

chetan soni (Expert)
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26 March 2008 Yes, but it should be as per the Scheme framed by Central Govt. If the same FD withdrawn before complition of the term then it should be added back to income.

R.V.RAO

R.V.RAO (Expert)
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26 March 2008 investment in fixed deposits in scheduled banks for a term of not less than five years in Section 80C of the I-T Act.
YES ALL SCHEDULED COOP. BANKS ARE ELIGIBLE FOR INVESTMENTS IN FD FOR 5 YEARS FOR 80 C DEDUCTION.
R.V.RAO

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CA. Kirti S. Ganatra

CA. Kirti S. Ganatra (Expert)
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26 March 2008 Yes it is eligible

MANAS ROUT

MANAS ROUT (Expert)
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26 March 2008 YES it is eligible for deduction u/s 80 C.

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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26 March 2008 YES IT IS ELIGIBLE FOR DEDUCTION UNDER SECTION 80C

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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26 March 2008 All FDs which are in the nature of tax savings investments provides the details regarding the availability of deduction on the face of the certificate itself