If I invest money in a 5 year Fixed Deposit with a nationalised bank on which interest will be deposited into my saving a/c. on monthly basis would then the interest will be exempt from tax? What are the conditions attached to such exemptions?
Please Guide me!!
Interest on such FD is taxable.
If u have made investments for 80C deduction, you can't withdraw it before maturity. Otherwise it will be taxable.
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