Individuals seeking exemption from TDS on the interest income of FD and RD, have to submit a completed Form 15 G/H at the nearest branch or online within the first week of the new Financial Year and every time a new deposit is booked.

50,000/- for senior citizens) in a financial year.

TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches exceeds Rs.

In case of loss, theft, destruction, mutilation or defacement of the FD receipt, a duplicate receipt will be issued only on furnishing an Indemnity bond in the prescribed form with one or more approved sureties or with a bank guarantee.

Every quarter, the interest for reinvestment is computed, and the Principal is increased to reflect the interest earned the previous quarter.

Your interest will be calculated every three months.

TDS on interest will be deducted after the end of every calendar quarter.

The first HDFC Tax Saving FD holder can claim a tax benefit under section 80C of the Income Tax Act, 1961. In the case of joint deposits, the tax deduction will be available only to the first FD holder of the deposit.While depositing the amount you can select the maturity instructions. Alternatively, an investor can opt for a payout of interest on the maturity of the fixed deposit. An investor can opt for a monthly, quarterly payout.Due to the lock-in period, the investor cannot prematurely withdraw the HDFC Tax Saving FD.The lock-in period is 5 Years from the date of deposit.Maximum amount allowed for a financial year is Rs.The minimum amount for the tax saving FD is Rs.HDFC Tax Saving FD Interest Rate 2023 Type of Depositor

Hence, while investing in a tax saving FD an investor must consider the liquidity of this investment. The HDFC Tax Saving FD has a lock-in period unlike other fixed deposits of 5 years. Section 80C allows a tax deduction of Rs 1.5 lakhs for an investment in a tax saving fixed deposit. With an investment in an HDFC Tax Saving FD, you can save income tax under section 80C of the Income Tax Act, 1961. HDFC Tax Saving FD is a type of fixed deposit that provides the benefits of investing in an FD along with tax saving.

Who Can Invest in the HDFC Tax Saving FD?.

Dream deposit hdfc calculator