deduction allowe under section 80c

[Guest]

Dear sir/mam,

i have a quiry related to the the F D R  investment allowe by income tax as a dedction under Section 80C  on of tax act or NO  please provided need ful solution against my quiry

 Regards,

Neeraj kumar

[Guest]

Dear Neeraj,

 

Normal FDR Investment is not exempted under 80c,

If u invest under 5 year lock in period FDR u may eligible for deduction under 80c.

 

Mohana Reddy

AI Summary

Fixed deposit eligibility under Section 80C depends on a prescribed long term lock in; standard FDs are not deductible. Ordinary fixed deposits are not eligible for deduction under Section 80C; only fixed deposits that are specifically structured with the requisite long term lock in and otherwise meet the statutory qualifying conditions may be eligible for the 80C deduction.