23 July 2010
Hello, I have a query reg. a 5-yr Fixed Deposit made by me recently (i.e. in July 2010). I have invested Rs.50,000/= in a 5-year Fixed Deposit with a Tamilnadu State Govt. enterprise. Will this investment qualify for income exemption under Sec 80C for the current Financial Year i.e. for A/Y 2011-12 ? Thanks & regards, -Raju Chacko
23 July 2010
To avail benefit under section 80C, the amount should be deposited in fixed deposit account opened as per' Bank Term deposit Scheme,2006'.
03 August 2010
Thank you for this important info. Can you name a few such qualifying FDs that are reliable to invest in? Thanks&warm regards,-Raju Chacko
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