Bank term deposit deduction limit increased under Income tax Section 80C, altering the eligible deposit threshold effective on notification. The Bank Term Deposit (Amendment) Scheme, 2014 substitutes the threshold in para 3(1) of the Bank Term Deposit Scheme, 2006, increasing the eligible deposit limit for the income tax deduction under Section 80C from one lakh rupees to one hundred and fifty thousand rupees; the amendment is notified by the Central Government and comes into force on publication in the Official Gazette.