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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Bank Term Deposit Scheme 2006: Single and Joint Holder Deposits Explained, Tax Deductions Only for First Holder Under 80C.</h1> The Bank Term Deposit Scheme, 2006, under section 80C(2)(xxi), outlines two types of term deposits: single holder and joint holder deposits. A single holder deposit is issued to an individual or a Karta of a Hindu undivided family. A joint holder deposit can be issued to two adults or an adult and a minor, with payment made to either holder or the survivor. For joint holder deposits, income tax deductions under section 80C are available only to the first holder.
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