Tax Exemption on Five Year Bank FDs

 You cannot claim a tax deduction on your investments in any fixed deposits with a five-year tenure.

 

You will have to invest in tax saving / saver fixed deposits that come with a five-year tenure to claim a tax deduction under Section 80C of the Income Tax Act. Tax-saving fixed deposits have a lock-in period of five years and they qualify for a tax deduction of up to R1.5 lakh under Section 80C.

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Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

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