Tax Exemption tricks
This query is : Open
13 April 2021
Hi,
I want to know how to get tax exemption in salary if we create a FD. It has lockin for 5 years and will I get tax exemption if I break it before 5 years. Also please suggest some ways to save tax.
Thanks in advance
I want to know how to get tax exemption in salary if we create a FD. It has lockin for 5 years and will I get tax exemption if I break it before 5 years. Also please suggest some ways to save tax.
Thanks in advance
13 April 2021
I think premature withdrawals are not allowed in case of tax saving FDs. Further, interest income on such FDs will be taxable. Other tax saving options would include PPF, ELSS, NPF, NSC etc
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
