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Deduction u/s 80c

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 November 2016 Is there any difference between term deposit and fixed deposit? please tell me the deductible u/s 80c for it.
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CA Suresh Jain

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CA Suresh Jain (Expert)
06 December 2016 There is no difference between Term and fixed deposits. The interest received on eligible fixed deposit is eligible for deduction u/s. 80c subject to an over all limit of Rs. 1.50 lakh
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2016 whether investment amount of fixed deposit is deductible u/s 80c?
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CA Suresh Jain

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CA Suresh Jain (Expert)
14 December 2016 Fixed deposit made in Bank under tax saving scheme is exempted upto an overall limit of RS. 1.5 Lakh u/s.80c

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