https://www.taxtmi.com/notifications?id=5057 The Bank Term Deposit Scheme, 2006 prescribes that individuals and Hindu undivided families may invest in scheduled bank term deposits of at least five years for purposes of deduction under section 80C, subject to an annual investment ceiling and minimum denomination. It sets procedures for application, issuance of receipts bearing prescribed particulars, nomination rules, non transferability between banks, prohibition on pledging, replacement of lost or damaged receipts with indemnity requirements, encashment only on five year maturity, bank determined interest payment modes, taxability of interest under the Act, and a governmental power to relax provisions to avoid undue hardship. en-us Fri, 28 Jul 2006 00:00:00 +0530 Tue, 22 Jul 2008 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=5057 The Bank Term Deposit Scheme, 2006 prescribes that individuals and Hindu undivided families may invest in scheduled bank term deposits of at least five years for purposes of deduction under section 80C, subject to an annual investment ceiling and minimum denomination. It sets procedures for application, issuance of receipts bearing prescribed particulars, nomination rules, non transferability between banks, prohibition on pledging, replacement of lost or damaged receipts with indemnity requirements, encashment only on five year maturity, bank determined interest payment modes, taxability of interest under the Act, and a governmental power to relax provisions to avoid undue hardship. Notifications Income Tax Fri, 28 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/notifications?id=5057