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Tuesday, October 16, 2012

How to save tax by investing in Post Office Time Deposit (POTD)?

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Call 0 94 8300 8300 (India)



POTDs are similar to bank fixed deposits.

Although available for varying time duration like one year, two year, three year and five year, only 5-Yr post-office time deposit (POTD) qualifies for tax saving under section 80C.

Happy Investing!!

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The current rate of interest on the 5 year POTD is 7.50% p.a., compounded quarterly. The minimum investment amount is Rs. 200, there is no maximum investment amount. Interest on these deposits is calculated quarterly and paid out annually.

Return (p.a.)

Effective 7.71% as interest is compounded quarterly

Risk

NIL

Lock In

5 years

Income from Investment

Fully taxable

Maturity Proceeds

Maturity proceeds includes interest which is already taxed every year

NRI/PIO eligible

No

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