Fixed deposits are the most popular tools of investment. FDs offer a viable source of income in the shifting winds of the economic climate. Though investors can completely exploit the benefits stated under Income Tax Act 80 C through fixed deposits, the interest earned on income is taxable. Devised below is a compilation of how the income tax on income earned from fixed deposits can be calculated and paid. What are fixed deposits? Fixed deposits are deposits made by an investor with a bank or NBFC for a stipulated period.…
Read MoreThursday, April 18, 2024
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