Tax rebate on 3 year bank FDs likely


Following concerted pressure from banks, the finance ministry has agreed to consider a proposal to reduce the lock-in period for bank deposit eligible for tax rebate to three years from five years, even though it goes against the spirit of the Direct Tax Code.
http://economictimes.indiatimes.com/news/economy/policy/budget-2012-tax-rebate-on-3-year-bank-fds-likely/articleshow/11918800.cms

 

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