| Show me another |
|
How can i save my income tax on FD
|
|
my FD AMOUNT IS 500000.00
|
|
In
Fixed Deposits
-
Asked by TAPASH SAHA -
2 years ago
|
Best Answer:
Banks have tax saving fixed deposit scheme. FDs have a lock-in period of 5 years. You can not withdraw the amount for 5 years. These FDs can not be pledged for any reason for these 5 years. Also, no overdraft facility is available for these tax saver fixed deposits. These tax saving FD can not be linked to a savings account. They can not have a sweep-in (or auto sweep) facility, where surplus money from a savings account is automatically transferred to an FD account (or is saved as an FD). To know more about fixed deposits visit rupeetimes.com.
2 years ago - By Mitu
|
|
