80c

garvit bharti (CA FINAL) (370 Points)

09 December 2014  
investment made in fixed deposit of 5 years is allowed as a deduction under 80C. eg: take 3 years in question. investment made in 5 years fixed deposit in 1st year rs 1 lac. deduction allowed in first year. my questions are: 1) will the same investment in 5 years fd allowed as 80c in 2nd and 3rd years?? If no,den should it be suggested to make 5 years fd again in 2nd year and likewise in 3rd yr. 2)suppose in the 3rd year FD which was made in first year for 5 years and was allowed as 80C,gets terminated pre maturity..what will happen ?? pls suggest