December 27, 2014 11:30 am
I want to ask whether FD investment comes under section 80 C (tax investment) ? If it comes under section 80 C than what is the minimum duration someone has to go for.
Checkout PPF – 15 year lockin , ELSS(tax saver mutual funds) – 3 year lockin if u r considering tax savings and the amount that u get after the lockin is also not taxable.
Normal FD doesn’t come under 80C. But tax saver FD will come under 80C, which will have a lock-in of 5 years and offered by all banks. But, interest is generally 0.5 % less than the 1-year FD. Also, the amount that you get after 5 years is taxable.
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