Fixed deposits (FDs) are offered for a short period of 7 days and also for long-term investments of up to 10 years. Tax-saving FDs have a tenure of at least 5 years. Under Section 80C of the Income Tax Act, 1961, investments made in tax-saving FDs up to ₹1.5 lakh can be claimed for income tax deductions.In this article, we will talk about the things you must keep in mind before investing in tax-saving FDs. But first, let’s understand…
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