Nominee vs Legal Heir: Key differences & how form 15G can help you save big with a non-working family member
Discover how to maximise your Fixed Deposit benefits while minimising 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 investment option for guaranteed returns, offering stability amidst diverse financial choices. Experts recommend FDs for portfolio diversification, but it’s essential to understand the tax implications, particularly for tenures under five years. By opening an FD in your spouse’s name, you can significantly reduce your Tax Deducted at Source (TDS) liability. This guide explains how to make the most of FDs while minimizing your tax burden.