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Bank Deposits

Tax-saving fixed deposits

Allow me to introduce you to a unique type of fixed deposit that offers a valuable tax break to investors. This deposit allows individuals to invest a certain amount of money and receive a tax benefit in return. The maximum benefit can be availed for investments up to Rs 1 lakh, with a mandatory lock-in period of 5 years.

Taxable interest

In the realm of finance, it is crucial to understand the taxation of interest earned on fixed deposits. According to the Income Tax Act, any interest earned on a fixed depos...

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Bank

Banks, as financial institutions, play a crucial role in the economy by accepting deposits from the public and providing loans and advances to individuals and businesses in ...

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Demand deposits

Deposit refers to the money that a bank receives from a customer, which can be withdrawn at any time by the customer. In banking terms, this is known as a demand deposit, as...

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Tax-saving fixed deposits

Allow me to introduce you to a unique type of fixed deposit that offers a valuable tax break to investors. This deposit allows individuals to invest a certain amount of money...

More