income tax on fixed deposit interest

Fixed deposit in any bank offers you a good amount of return in the form of interest. If you are investing in any of the specified fixed deposit scheme for 5 years or more with a scheduled bank then the amount deposited during the financial year will be allowed as a tax deduction U/S 80C out of the total income for financial year in which such amount has been deposited. Now … [Read more...] about How Income tax on fixed deposit is calculated