Web28 Jul 2024 · 4) Investments made under the 5-year fixed deposit account qualifies for income tax benefits under Section 80C of the Income Tax Act. However, there is no tax … WebThe Post-Office Term Deposit (POTD) Scheme is an investment savings account scheme offered by the India Post (Department of Posts). ... The tax benefit can be obtained only if …

Taxation Of Post Office Schemes - BankBazaar

WebThe minimum deposit amount for this tax saving FD in the post office is ₹1,000, and there is no maximum limit for investment. The tax saver FD interest rates in the post office range … Web21 Dec 2024 · Some other benefits of this scheme are: The maximum period here is 5 years, and in one or more post offices, any number of such deposits can be made. The minimum … hris notes

Post Office Tax Saving FD - Bajaj Markets - bajajfinservmarkets.in

WebDeposits in the five-year time deposit account qualify for a deduction under section 80-C of the Income Tax Act. The interest rate ranges from 6.80% to 7.5%, depending on the deposit term. Web3 Apr 2024 · Senior Citizen Savings Scheme: Interest earned is taxable and as per section 80TTB of the I-T Act, it allows for a deduction up to Rs.50,000 in respect of interest income from deposits. Post office time deposit scheme: The interest income is taxable and there is no tax benefit under section 80C on PO Term deposits with less than 5 year tenure. Q3. Web1 Feb 2024 · The following are the advantages of investing in post office saving schemes: Risk-Free Investment: Since the post office saving schemes are backed by the … hoarding house