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What Are Tax-saving Fixed Deposits? |
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Answer» Tax-saving fixed DEPOSITS are a special category of fixed deposits where the investor GETS the benefit of a tax break when they INVEST a sum of money in the deposit. The MAXIMUM benefit is available up to an investment of Rs 1 lakh and there is a lock-in period of 5 YEARS in the deposit. Tax-saving fixed deposits are a special category of fixed deposits where the investor gets the benefit of a tax break when they invest a sum of money in the deposit. The maximum benefit is available up to an investment of Rs 1 lakh and there is a lock-in period of 5 years in the deposit. |
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