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SVC - Tax Exempt
  • The Central Government has introduce Bank Term Deposit Scheme 2006,vide Notification No 203 / 2006, dated 28th July 2006, in exercise of the powers conferred by clause ( xxi ) of sub - section (2) of section 80C of the Income - Tax Act, 1961 ( 43 of 1961 ).
  • Savings and investments in Fixed Deposits of not less than 5 (five ) years in scheduled banks would now qualify under section 80C of the Income Tax Act subject to the overall ceiling of Rs. 1,50,000/- (Rupees one lakh only ).
  • This scheme is in line with the provisions of Bank Term Deposit Scheme, 2006.
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