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 -  3 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.
3 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.
3 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.
3 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.
3 years ago - By Lovely
Answer: Open Questions RSS
how many rupees in my sbi account34309817454
I invest 4.5 lac in mis scheme in SBI how much amount received per month
View All
Discover: Resolved Questions RSS
FOR DEPOSIT OF 40,00000/- HOWMUCH IS MY INTEREST PER ANNUM
FEET @09780560514~@ Call GiRls ludhiana Female EsCoRt In ludhiana Female Escort Service In ludhiana
BaNg @~09780560514~@ Call GiRl In ludhiana EsCoRts In ludhiana Escort Services In ludhiana
What is the FD interest rate in India?
what is the bank interest rate for fixed deposit
View All
Vote: Undecided Questions
No question found.
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
SBI determined to continue retail banking in UK Oct 21, 2014
Axis Bank profit increased by 18% Oct 20, 2014
Axis Bank reduced its rate by 0.10% Oct 17, 2014
New FD rates of central Bank of India Oct 16, 2014
Cooperative banks should also actively participate in PMJDY Oct 15, 2014
News Archive
EDITORS' PICKS
Fetch higher interest rate on your savings...
J&K Bank raises PLR
Fixed Deposits: Safest instrument to invest
Gold ETFs or Gold Funds: Which One Should...
Investment options to Save Tax under...