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query for deduction

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(Querist)
15 February 2011 is Bank Fixed Deposits are allowed for deduction from Gross total Income
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CA bhargava

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CA bhargava (Expert)
15 February 2011 Fixed deposits are allowed as deduction if..."period of maturity =more than 5 yrs.
in a scheduled bank and as framed and notified by the Govt.
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
15 February 2011 agreed. it is covered in section 80C of income tax act
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