22 March 2015
In saving account you get lesser interest (4% in Most Banks). In Fixed Deposit rate of Interest is higher.
Deduction upto a maximum of Rs 10000/- can be claimed u/s 80TTA for interest on Saving Bank Account. This deduction is not available for Interest on FD.
TDS is not required to be deducted on Interest on Saving bank A/c. But TDS is required to be deducted on Interest on FD u/s 194A if interest is more than Rs 10000/-.
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