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BANK ON TERM DEPOSITS FOR AVAILING TAX SAVING
Posted by
mukesh patel in
Save Tax - The Smart Way, Tax Clues - Ahmedabad Mirror on
Feb 13th, 2012 |
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Investing in the ‘Tax Saving Deposit Scheme’ can be a great choice for NRIs & HUFs who cannot invest in PPF!
The Finance Act, 2006 enlarged the scope of investments and allocations eligible for deduction under Section 80C of the Income-tax Act through the inclusion of ‘a term deposit for a period of 5 years or more in accordance with a scheme framed by the Central Government.’ Pursuant to this, the ‘Bank Term Deposit Scheme, 2006’ was announced vide Notification No.203/2006 dated 28th July, 2006. (more…)
