50000 invested in Fixed deposits with SBI for one year . How this can be shown in deductions?
Short term FD (7-10days) also made every month.How this should be shown ?
5 Replies
harinathk
(ca)
(23 Points)
Replied 01 August 2019
FD for one year is not eligible for claiming deduction because of lock in period should be 5years and u deposited for 1year
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 01 August 2019
Exactly minimum lock in period is 5 year, your FD of 1 year and other of 7 days are not eligible for deductions..
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