Term Deposits
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 July 2011
I have a Term Deposit of Rs. 50000 in Oriental Bank of Commerce. It is for 5 years. However, just want to now if I will be eligible to get any deduction under Ch. VIA.
Thanks
Thanks
20 July 2011
Term Deposits with 5 yr maturity can be claimed as deduction under 80C in the year of deposit
20 July 2011
Deduction under section 80C(2)(xxi)can be claimed provided the deposit is covered under "Bank Term Deposit Scheme,2006".
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