I want to do fixed deposit

Dear rahul, according to income tax rules, 180000 rs is limit for men. Suppose now you invest 500000rs in sbi,app you will get 47500rs interest per year(500000*9.5/100) and your annual income 100000rs. So you have 147500rs as your total income in a year(if you have any other deposits or any other income then add to the total income), if your total income exceeds 180000rs then you paid tax. Bank must taken your pan card zerox along with with your deposit. If you income behind the limit then no one income tax department enquire about this.

Hi Rahul, F.D is based on ETE i.e at the time of investment Exempt, no tax attracts, interest is taxable and at the time of maturity full amount is exempt from income tax. Thanks and Regards Suraj Pahuja.

if you depoist Rs. 5.00 lac in FDR a/c under your PAN and submit form 15G as a declartion form that your annual income will be below Rs 1.80 lac or Tax will be nil. Than no TDS deducted by bank on interst. In the Absance of FORM 15G bank dedeuct the tax @ 10% on interst accurd on FDR and not submmission of PAN the rate of TDS will be 20%
 

Dear Rahul, You not cleared in your query,whether you sold your plots or not. If sold them, then the provisions of capital gains will be attracted. And if not, then the Capital balance in your A/c is appx.Rs.500000/- which were already invested by you in plots.

Its my request to you please give details regarding your query.

ur income is subject to Capital gian tax. Either invest in GC exepmt securities or buy a rural land and after speified time sell it then it will not attract GC tax.

any kind of fixed deposit with any bank can be tracked even if you allocate moeny and fix it in differents.

I would suggest you to devide your 5 lacs into following. And pls devide all the money in between your closed ones say parents or wife or children.

Please take care of one thing that wherever you invest you should invest less than Rs.50000 and if possible invest in small amounts like 10 to 20 thousand so that it can not attract the IT dept. 

And in case of income from a mutual fund it is totally exempt under sec.10(34) and 10(35).

So i would suggest you to invest more in mf in balanced fund with deividends and regular monthly income plans so that your capital is safe and you can earn a healthy return which always more than the Bank FD rate. just analyse the performance of dividends declared by top mf schemes of HDFC uti and Birla sun life.

who is performing high returns since 10 or more years with regular dividend of and avg of 10%.

1. Mutual Fund 

2. KVP

With Regards, 

Kalpesh Chauhan.