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It is the good news to the all tax payers that the CBDT have Notifies the Bank Term Deposit limit extended from 1 Lakh to 1.5 Lakh as per the CBDT Notification No. No.63/2014, F.No.142/09/2014‐TPL Dated 13/11/2014. The Notification details is given below :-
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) This scheme may be called the Bank Term Deposit (Amendment) Scheme, 2014.
lakh rupees” ,the words “one hundred and fifty thousand rupees” shall be substituted.
[[Notification No. 63/2014, F.No.142/09/2014‐TPL]