hi
is fixed deposit of 1 lakh is eligible for 80c
6 Replies
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 19 June 2009
YEs, If the tenure is equalls or more then 5 years
CA CS Bhumika Thakkar
(CA,CS)
(1618 Points)
Replied 19 June 2009
for 5 years..n only in a scheduled bank..
CA Nitin Wadhwani
(Chartered Accountant)
(4469 Points)
Replied 19 June 2009
Also it needs to be approved by the Central Givernment
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 19 June 2009
Yes it should be recognised by central government under Tax Saving FDRs
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