alleryStart learning →For section 80TTA, 'time deposits' means deposits that are:
AWithdrawable on demand
BHeld in minors' names only
CRepayable after a fixed period
DHeld in a post office only
Answer & Solution
Correct answer: C. Repayable after a fixed period
The Explanation defines time deposits as deposits repayable on expiry of fixed periods.
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Related questions
For an individual under 80DDB, 'dependant' includes the spouse, children, parents and:For 80DDB, the deduction is reduced by amounts received from:For a senior citizen, the 80DDB limit rises to:Section 80DDB allows the amount actually paid or Rs 40,000, whichever is:A resident supports a disabled dependant and spends on treatment; the base 80DD deduction If the dependant predeceases, the 80DD deposit is:Besides spending on treatment, 80DD also covers payment into a scheme of:Section 80DD grants a deduction for expenditure on a dependant who is: