What are the conditions to be satisfied for claiming deduction in respect of a 5 year term deposit made with a co-operative bank under section 80c of Income Tax Act, 1961?
In other words, when does a 5 year term deposit with a co-operative bank qualifies for deduction under section 80c, are there any specific conditions to be satisfied or just that a simple 5 year term deposit with any bank qualifies for deduction under section 80c, irrespective of the bank, rate of interest, periodicity of payment of interest, or metioning on the top of FD certificate as tax saver deposit.
Kindly clarify
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