Ask your Question
   (100 characters left)
Search for questions:      Advanced
Credit Cards
Car Loans
Home Loans
Personal Loan
Education Loans
Fixed Deposits
Savings Accounts
Miscellaneous
Bank ATM Auto Loan Bad credit Loan Recovery Recovery Agents Indian Bank Canara Bank Corporation Bank Loan Calculator credit card fraud HSBC Bank Vijaya Bank Deutsche Bank Credit history Credit score Used car loan Saving Account Fixed Deposit Loan Finance ICICI Bank RBI SBI Disha HDFC ABN Amro CitiBank EMI Calculator Kotak PNB Barclays Home Loan Personal Loan Credit Card Interest rate
Resolved Question:
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 -  4 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.
4 years ago - By Mitu

Other Answers (3)
show:
Answer 1.
You can give your Bank the copy of PAN Card and Form 15 G or 15 H duly filled and signed not to deduct tax at source if your annual income is less than the taxable income. Otherwise 20% tax on interest amount will be deducted at source.

You can get the refund in your Annual Income Tax Return
accordingly.

Income Tax can be saved by investing in tax saving instruments approved by the Govt. to a certain limit.
4 years ago - By John
Answer 2.
I prefer FD for investment with public sector bank. It gives you high return and money is also safe.
4 years ago - By Ronak
Answer 3.
FD is the best option of investment. You can divide the amount in small portion and save in different banks to save tax. The tax limit on FD interest is Rs 10000. If interest exceed this bank will deduct tax.
4 years ago - By Lovely
Answer: Open Questions RSS
best ))+91-9785158444 vashikaran & black magic specialist
BEST) +91-9785158444 lOvE VaShikaRan SpEcialisT Baba ji
BESSTt(&*&* +91-9785158444 love marriage vs arranged marriage Request Sticky
{{Expart}} Love Marriage Specialist Baba Ji +91-9785158444
'Bestt(&*^ +91-9785158444 Love Marriage Specialist baba
View All
Discover: Resolved Questions RSS
ViP%%%49 Rohiℕi ℂall GiRℒs O99*112821>29 Hiℊh P𝓡ofilℯ ℂall GiRℒ in rohiℕi
⁑vVO9911282129⁑ Motel Rohini ⁑vVO9911282129⁑ Motel Rohini ℰscℴℛt SℰrVicℰ Rohini ℂaℓℓ ℊℐℝℓs in Rohini
Pune To Mahabaleshwar Escorts service 08698811456 Pune call girls agency.AAA?
JaℕaKℙuRℐ !~ VIP Sℯxy ~@समर9199II282129@~ FℯmaLe ℯsCoRt Agency SℯRViCe CaLL GiRLs in JaℕaKℙuRℐ
₮üℝďäÿ ℕïℊℎẗ ௹~* ➒1+➒➒II282I29 *~௹ ℰsℂℴℝt pitampura ℭaℓℓ Giℝℓs in pitampura ℰsℂℴℝt Sℯℜvℐℂℯ in pitam
View All
Vote: Undecided Questions RSS
{}{}+91-9983432002{}{} [[@Love vashikaran specialist baba ji@]]
Bang@Call Giℛls Service Zirakpur 09855660911 Escoℛt Call Giℛl Services in chandigarh Escorts Rajpura
Breakup! 09855660911 Call GiRl In Kharar EsCoRt In Zirakpur Escort Services In Chandigarh call Girls
/ℂall ~Giℛℒs S~O9711-115-621-/ℰscℴℛts seℜvices in Jangpura Five StaR HoteLs/Night CaLL GirLs
View All
COMPARE RATES
Get best FD rates
Best FD rates by banks
Compare Car Loan Rates for a used car
Get best bank for Home Loan
Show All...
COMPARE QUICKLY
 Select a product:
 

CALCULATORS
Fixed Deposit Interest Income Calculator
Credit Card Balance Transfer Savings Calculator
Car Loan Amount by EMI Calculator
Car Loan Amount by Down Payment Calculator
More Calculators...
CALCULATE QUICKLY
 Select a product:
 

NEWS THIS WEEK
Corporation bank launched a new Corp Excel Branch and e-lobby in Mumbai Nov 25, 2014
Banks to go for Zone wise relay strike for wage revision Nov 24, 2014
BMBSmartBanking – internet banking facility of the BMB bank Nov 20, 2014
Central Bank introduced two new products for its customers Nov 18, 2014
New Branch of BMB bank in Gujarat Nov 17, 2014
News Archive
EDITORS' PICKS
Infrastructure bonds: another tax saving...
For what purpose do you want to invest in...
Complete guide to TDS on fixed deposits in...
J&K Bank raises PLR
Carnival of Indian Personal Finance Blogs #1