Can I claim a long term fixed deposite as a tax saving investment?

If I do a Fixed Deposit of 1 Lac in SBH for 5 years 3 months
Can I claim the entire 1 Lac amount under sec 80C for the year 2006-2007? ( I mean under the MAX 1 Lac limit savings where we show all types of savings like NSC, LIC etc.)
Thanks

.5 years and more Fixed deposits are eligible for 80C up to 1 lakh per year from F.Y 2006-07. You can claim it as 80C for this year. (Max. 1 lakhs together with NSC, PPF, LIC Etc.,)

Yes.

According to section 80C we cannot claim any deduction of investing in long term fixed deposits.

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