The Maturity Instruction "Repay Principal and Interest" will be followed when disposing of e-TDRs and e-STDRs purchased under the Tax Saving plan.
Check out the NoBroker legal assistance service for more legal queries regarding property buying and sellingAs required by law, the bank will deduct income tax from interest payments. When opening an e-TDR or e-STDR under the Tax Savings Scheme, or at the start of the Financial Year in succeeding Financial Years, the depositor must submit Form 15H/G to the home branch if no tax is to be deducted at the source.
If the customer chooses the "Senior Citizen" option and is 60 years of age or older on the date the fixed deposit is created, as per the date of birth recorded with the bank, an e-TDR or e-STDR under the Tax Saving Scheme will be issued with an additional rate of interest for senior citizens.
I would like to say that to know how much tax to save, you should visit your bank and enquire about the same with the bank manager. You can also take advice from a tax consultant.
Read More:
How Can I Save Income Tax By Investing With REIT?Your Feedback Matters! How was this Answer?
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How much income tax is saved if five lakhs deposited for 2year duration in e-stdr?
Dhananjay chaugule
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3 Year
2022-07-22T11:22:53+00:00 2022-07-26T10:41:22+00:00Comment
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