CBDT has issued a notification on 13th November, 2014 regarding increasing limit of Bank FDR upto Rs. 150000/- u/s. 80C. This Scheme is call as the Bank Term Deposit (Amendment) Scheme, 2014. This amendment shall be effected from 13th Nov., 2014. The amended notification is as under :
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY,
PART–II, SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
(CENTRAL BOARD OF DIRECT TAXES)
Notification
New Delhi, the 13th November, 2014.
(INCOME-TAX)
S.O. 2906(E).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), the Central Government hereby makes the following amendments to the the Bank Term Deposit Scheme, 2006, namely:-
1. (1) This scheme may be called the Bank Term Deposit (Amendment) Scheme, 2014.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the Bank Term Deposit Scheme, 2006, in para 3, in clause (1), for the words “one lakh rupees” ,the words “one hundred and fifty thousand rupees” shall be substituted.
[[Notification No. 63/2014, F.No.142/09/2014-TPL]
(Raman Chopra)
Director (TPL-II)
Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii),vide number S.O. 1220(E) dated the 28th July,2006 and subsequently amended by notification number S.O. 2127(E), dated 13th December 2007.
