Best Tax-Saving Options to Look Out For
# Fixed deposits
Fixed deposits are a high-interest-yielding Term deposit and offered by banks in India and cannot be broken off until its maturity period is reached.
Tax is deducted by the banks on FDs if interest paid to a customer at any bank exceeds 
10,000 in a financial year.
This is applicable to both interests payable or reinvested per customer. This is called Tax Deducted at Source and is presently fixed at 10% of the interest.
There are notified FDs of five-year tenure or more that also give you the 80C deduction. The interest is taxable though. So it works if you are in the lower tax bracket or need an assured income in the short term.
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