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Tax Saving Fixed Deposit

The only additional benefit of a Tax Saving FD over a regular FD is that the original amount you invest in a Tax Saving FD is exempted from taxes. Also, you can claim a tax deduction under Section 80C of the Indian Income Tax Act, 1961 while filing income tax returns. However, the interest income that is generated from Tax Saving FDs is subject to the same tax rules as any other regular FD.

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