Understand difference between nominee & legal heir; form 15G-related technicalities that can help you save big using a non-working family member
Discover how to maximize your Fixed Deposit benefits while minimizing tax liabilities. Learn about using your spouse's name for FDs and the importance of Forms 15G and 15H.
Fixed Deposits (FDs) remain a popular choice for investors seeking guaranteed returns. Despite the availability of various investment options, FDs are often recommended by experts for portfolio diversification. However, understanding the tax implications associated with FDs, especially for tenures under five years, is crucial. By leveraging your spouse's name for opening an FD, you can potentially save on Tax Deducted at Source (TDS). This guide explores how to maximize your benefits while minimizing tax liabilities.