Hello,
Have a question on Fixed deposits.
My father FD is maturing soon. He has a few FDs maturing in 2019, some as early as jan, some in feburary, some march, july, and some September 2020.
He is in the lowest tax bracket.
The FD were mainly for 7 years and above. He will be getting around 9.5% return on the FDs.
The total amount maturing in 2020 is about 1.25 crores.
Is there any way i could reduce taxes for my father.
Thanks
1 Answers
Hi,
Any specific investment objective(s) for keeping such a large corpus in Bank FDs?
Are these FDs with multiple banks?
You may go through below articles :
- Income Tax Deductions List FY 2019-20 | List of important Income Tax Exemptions for AY 2020-21
- Lump sum Investment options for Retirees/Senior Citizens | Where to invest my Retiral benefits to get Regular Income?
- List of all Popular Investment Options in India – Features & Snapshot
- Bank Deposits: Are you aware of this interesting fact?
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