Tax deduction under Section 80C: eligibility requires term deposit investments in scheduled banks meeting prescribed annual and minimum thresholds. The Bank Term Deposit Scheme permits an assessee to invest in scheduled bank term deposits for deduction under subsection 80C(2)(xxi), subject to a ... Summary
Tax deduction under Section 80C: eligibility requires term deposit investments in scheduled banks meeting prescribed annual and minimum thresholds.
The Bank Term Deposit Scheme permits an assessee to invest in scheduled bank term deposits for deduction under subsection 80C(2)(xxi), subject to a prescribed annual ceiling and a minimum deposit denomination of one hundred rupees or multiples; a later substitution increased the prior specified annual ceiling.
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