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Invest in Tax-Saving Fixed Deposits

Invest in Tax-Saving Fixed Deposits

Thursday, March 2, 2017, 3:00 PM

A tax-saving fixed deposit is just like any fixed deposit, only it gives you tax benefits. Not all fixed deposits offer tax benefits. Only tax-saving fixed deposits provide you this benefit. A tax-saving fixed deposit has a lock-in period of 5 years. You get a tax deduction up to INR 1.5 Lakhs a year, under Section 80C of the income tax act.
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