Explainer | Tax Saving Fixed Deposits
Updated: 17 Mar 2022, 10:12 PM IST
TL;DR.Tax-saving fixed deposits are comparable to regular FDs, with the exception that they have a 5-year lock-in term and allow you to save taxes under Section 80C of the Internal Revenue Code. Continue reading to understand it in detail.
Tax Saving Fixed Deposits, as the name suggests, is the scheme that allows investors to avail tax deductions under section 80C of the Income Tax Act, 1961.