Laws and sections by number or title, due dates, pages, and updates.
The Central Government amends the Bank Term Deposit Scheme, 2006. The Central Board of Direct Taxes updates the maximum deposit limit for the deduction under section 80C of the Income-tax Act, 1961. The Central Government changes the limit from one lakh rupees to one hundred and fifty thousand rupees. The scheme takes effect on the date of its publication in the Official Gazette.
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[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:‐
[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.
