Exemption under 80 C

[THYAGARAJAN RAMAMURTI]

I would like to know if NRI   is eligible for Exemption under Section 80C by investing in a bank Deposit for Rs 1 lakh for 5 years

AI Summary

NRIs Eligible for Section 80C Tax Deduction on 5-Year Bank Deposits, Confirms Chartered Accountant An individual inquired whether a Non-Resident Indian (NRI) can claim an exemption under Section 80C of the Income Tax Act by investing Rs 1 lakh in a bank deposit for five years. A Chartered Accountant confirmed that NRIs are indeed eligible for this deduction.