What are the Perks of Tax-Saving Fixed Deposits (Under Section 80C)?
Tax-saving Fixed Deposits, or FDs, are a Fixed Deposit scheme that helps individuals save on taxes. Under the tax-saving FD, you can save taxable income up to ₹1.5 lakh under Section 80C of the Income Tax Act. However, one mandatory condition for a tax-saving FD is a 5-year lock-in period. If the Fixed Deposit is…
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