Tax saving fixed deposits: All you need to know in 10 slides
Tax saving fixed deposits: Are you a risk-averse investor and prefer investing in fixed deposits? If yes, then you must know about tax-saving fixed deposits which are available under Section 80C of the income tax act to claim deduction on your taxabale income. As the new financial year has just started, it will be prudent for you to sit and calculate your taxable income now and thus plan your investments for the financial year 2018-19. "Since tax-saving fixed deposit is a bank-based investment product, closely monitored by Reserve Bank of India (RBI), investors are assured of its safe and low-risk nature. The money deposited is safe and is easily redeemable with interest once it reaches maturity," according to tax planner firm ClearTax. Here are 10 key details of tax-saving FDs: