Tax-saving fixed deposits for senior citizens: A guide to tax-exempt returns | Business – Times of India
Fixed deposits: Tax-saving fixed deposits (FDs) enable senior citizens to avail a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income-tax Act, 1961. The interest earned on fixed deposits typically incurs taxes. However, senior citizens have the opportunity to generate tax-exempt returns from tax-saving FDs. To understand how it works…
