TagTax Saving

If you invest in a tax saving fixed deposit you can claim the amount invested up to Rs 1.5 lakh as a deduction from your income, as per current tax laws. The amount so invested is to be deducted from gross total income to arrive at taxable income. This deduction is allowed under Section 80C of the Income Tax Act. Section 80C also defines the limit of investment for which deduction can be claimed...