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Bank Deposits

Tax-saving fixed deposits

Allow me to introduce you to a unique type of fixed deposit that offers a valuable tax break to investors. This deposit allows individuals to invest a certain amount of money and receive a tax benefit in return. The maximum benefit can be availed for investments up to Rs 1 lakh, with a mandatory lock-in period of 5 years.

Fixed deposit

A fixed deposit is a financial tool where an individual deposits a certain amount of money to a bank, financial institution, or company. In return, the receiving entity pays...

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Non-Resident Accounts

Welcome to today's lesson on non-resident bank accounts. These are accounts held by Indian nationals and Persons of Indian Origin residing abroad, foreign nationals, and for...

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Interest payout

A crucial aspect of investments, interest payout refers to the distribution of accumulated interest to the investor on a periodic basis. This can be in the form of quarterly...

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Taxable interest

In the realm of finance, it is crucial to understand the taxation of interest earned on fixed deposits. According to the Income Tax Act, any interest earned on a fixed depos...

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