i m salaried person, i want to know whether investment in fixed deposit can be taken in u/s 80c, if no ,where i can take it
KARANDEEP,CA,B.Com,CS FNL
(JOB)
(457 Points)
Replied 12 January 2012
Yes,you can invest in the FD provide that lock in period of the same will be 5 year and further you can invest in Life insurance policy,Provident fund.etc with the maximum limit of deduction is Rs.100000/- and extra Rs.20000/- under 80CCF deduction on long-term infrastructure bonds notified,Thats means total of Rs.120000/- of deduction can be claim under 80c + 80 ccf.
Thanks & Regards
Karandeep
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