Wednesday 2 November 2016

Download Form 15 G and 15 H

Declaration under sub-section (1C) of section 197A of the Income-tax Act, 1961, to be made by an individual who is of the age of sixty-five years or more (Sixty Years from A.Y. 2012-13) claiming certain receipts without deduction of tax.


About Form 15G
Form 15H can be submitted only by Individual above the age of 65 years. (Age limit reduced to 60 Years from A.Y. 2012-13)
Estimated tax for the previous assessment year should be nil.
Form should be submitted before the first payment of interest.
Form to be submitted if interest on loan ,advance, debentures , bonds or say Interest income other then interest on bank exceeds 5000/-.


About Form 15G
Declaration under sub-sections (1) and (1A) of section 197A of the Income-tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax.
Form 15G can be submitted by Individual below the age of 65 years (Age limit reduced to 60 Years from A.Y. 2012-13)) and Hindu Undivided family.
Form 15G should be submitted before the first payment of interest.

Download Form Here http://www.incometaxindia.gov.in/Pages/downloads/most-used-forms.aspx

Monday 31 October 2016

Rajiv Gandhi Equity Saving Scheme (RGESS)

Rajiv Gandhi Equity Saving Scheme (RGESS)

Objectives and legal aspects of RGESS

1. What is RGESS?
Rajiv Gandhi Equity Savings Scheme (RGESS), is a tax saving scheme announced in the Union Budget 2012-13 (para 35) and further expanded vide Union Budget 2013-14 (para 61 & 144). The scheme is designed exclusively for the first time individual investors in securities market, whose gross total income for the year is below a certain limit. In 2013-14, the income ceiling of the beneficiaries was raised to Rs. 12 lakh from Rs. 10 lakh specified in 2012-13. The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the amount invested during the year, upto a maximum investment of Rs. 50,000 per financial year, from his/her taxable income for that year, for three consecutive assessment years.
2. What is the objective of the Scheme?
As announced in the Union Budget 2012-13, the objective of the Scheme is to encourage the flow of savings and to improve the depth of domestic capital markets. This would help in promoting an 'equity culture' in India. The Scheme aims at widening the retail investor base in the Indian securities markets and also furthers the goal of financial stability and financial inclusion.
3. What is the legal provision for RGESS?
A new section 80CCG in the Income tax Act, 1961 on 'Deduction in respect of investment under an equity savings scheme' was introduced vide Finance Act, 2012 and amended vide Finance Act, 2013, to give tax benefits to 'New Retail Investors' whose gross annual income is less than or equal to Rs.12 Lakhs, for investments in 'Eligible Securities' up to Rs.50,000 in a single financial year, for three consecutive assessment years.

The details of the RGESS Scheme were first notified on 23 November 2012 (Section No. 2777(E); Notification No. 51) and vide subsequent corrigendum dated 5 December 2012 (Section No. 2835(E); Notification No. 53) by Department of Revenue. The operational guidelines were issued by SEBI on 6 December 2012. Subsequent to the Union Budget 201314, Section 80CCG was amended vide Finance Act, 2013, to expand the scope of the Scheme. The notification dated 23 November, 2012 was accordingly amended vide Notification dated 18 December 2013 (Section No. 3693 (E); Notification No.94).
4. Would first time investors not lose money in the equity market? Would it be too dangerous for them to invest in it?
The investors in the RGESS run the risk of losing money in the equity market, like any other investor in the securities market. The Scheme does not provide any guarantee of assured returns. Therefore, investors under RGESS are advised to do due diligence before making any investments in the equity market.

However, while designing the Scheme, safeguards like, restricting the investments to select large cap stocks, lock-in period with enough flexibility to take benefits of the positive market movements etc. have been provided to protect the interests of the first time investors.

To give the benefit of diversification and consequent risk minimization, investments into Exchange Traded Funds (ETFs) or Mutual funds, set up as per the criteria laid down in the Scheme, are also allowed under the Scheme.
5. We already have an Equity Linked Savings Scheme (ELSS)? Why do we need RGESS?
ELSS and RGESS are entirely different schemes: They pertain to different asset classes with ELSS offering passive investment avenues. ELSS is meant for indirect participation in the stock market, whereas RGESS aims at encouraging direct participation in the stock market. The operational differences are given below: 
Operational differences
ELSSRGESS
Investments are to be strictly in mutual fundsInvestments are to be made directly in listed equity or into units of mutual funds and ETFs
100% deduction (upto Rs. 1,50,000) is allowed under ELSSOnly 50% deduction of the investment made (upto max. of Rs. 25,000 in any one year) is allowed under RGESS.
ELSS benefits can be availed by an investor every yearRGESS benefits are limited to the new investors and can be availed for only 3 consecutive years
The ELSS benefit is coming under Section 80C of the IT Act which has an aggregate limit of Rs. 1,50,000 for all such eligible instruments like LIC policy, PPF etcRGESS deduction is available under Section 80CCG. This is a separate investment limit exclusively for RGESS, over and above the Section 80C Limit of Rs. 1.5 lakhs
Lock-in period of 3 yearsLock-in period of 3-years. However, trading allowed after one-year, subject to conditions.
Since investments are in mutual funds, it is perceived to be less riskySince investments are in equity, risk is perceived to be higher
6. What are the benefits / highlights of RGESS compared to other tax saving schemes?
The following are the benefits of RGESS:
  1. The allowed tax deduction u/s 80CCG will be over and above the Rs. 1.5 Lakhs limit permitted under Section 80C of the Income Tax (IT) Act, making it thus attractive for the middle class investors
  2. Further, the Dividend income is tax free, if the company is liable to dividend distribution tax
  3. The benefits can be availed for three consecutive years
  4. Investor is free to trade / churn the portfolio after the fixed lock-in period, subject to certain conditions
  5. Gains arising out of higher market valuation of RGESS eligible securities can be realized after a year viz: fixed lock-in period. Provisions exist to protect the investor from general declines in the market to a certain extent. This is in contrast to all other tax saving instruments
  6. Facility for pledging stocks after the fixed lock-in period
  7. For investments upto Rs.50,000 in your sole RGESS demat account, if you opt for Basic Service Demat Account, annual maintenance charges for the demat account is zero and for investments upto Rs. 2 lakh, it is stipulated at Rs 100
  8. The investments can be made in installments during the financial year in which tax deduction is claimed
Coverage of the Scheme: Investors and Investments allowed under RGESS
7. Who all will be covered under the Scheme? Who is a new investor?
The Scheme is open for all New Retail Investors who have gross total income less than or equal to Rs. 12 lakh. A new retail investor is one:
  1. who is a resident individual (the benefit cannot be availed by HUF, corporate entities / trusts etc)
  2. who has not opened a Demat account and has also not done any trading in the derivative segment till RGESS account opening date or the first day of the 'initial year' in which he brings in the RGESS eligible investment into the account, whichever is later
  3. who has opened a Demat account and has not made any transactions in equity and /or in the derivative segment till designating such account as RGESS or the first day of the 'initial year' in which he brings in the RGESS eligible investment into the account, whichever is later..
In case of joint accounts, only the first account holder will not be considered as a new retail investor. All those existing account holders other than the first demat account holder (eg. second / third account holders or other joint holders) or nominees of the existing account holders will be considered as new retail investors for the purpose of opening of a fresh RGESS account, if otherwise eligible.

In case the demat account is opened as a first holder, but there are no transactions in the equity or derivative segment, then the first account holder is eligible to be a new retail investor.

For taking the benefits under RGESS, the new retail investor will have to submit a declaration, as in Form 'A', to the Depository Participant (DP) at the time of account opening or designating his existing demat account.

Eligible securities, which are brought thereafter into such an account, will be automatically subject to lock-in upto a value of Rs. 50,000, unless the investor specifies otherwise through the Form 'B' specified in this regard.
8. I am a non-resident Indian; Am I eligible for RGESS?
The Scheme is for an individual resident in India as per the provisions of the Income Tax Act.
9. Can a Guardian claim RGESS tax benefit if investment is done in the name of Minor?
Yes. Guardian can claim tax benefit for investments done in the name of minor, subject to overall limit for guardian as an individual.
10. I am already having physical units of mutual fund and / or Exchange Traded Funds; Am I eligible for the RGESS?
Yes. Prior investments in mutual funds and Exchange Traded Funds do not make an investor ineligible for the Scheme. However, you need to invest afresh in RGESS eligible mutual fund /ETF schemes and hold them in a demat account to avail of the benefits under RGESS.

Saturday 29 October 2016

7 Things To Know About Deduction On Interest On Loan Under Section 80EE

7 Things To Know About Deduction On Interest On Loan Under Section 80EE:

1) Deduction is allowed only to INDIVIDUAL.

2) Deduction is on account of Interest payable on Loan from Financial Institution for acquisition of  Residential House Property.

3) Loan has been sanctioned in financial year 2016-2017

4) The Amount of Loan sanctioned does not exceed 35,00,000 Rupees

5) The value of Residential House Property does not exceed 50,00,000 Rupees.

6) On the day of sanction of loan, Assessee does not have another Residential House Property.

7) Maximum Deduction Under This Section Is 50,000 Rupees.

Deduction Under Section 80E

Deduction in respect of interest on loan taken for higher education Under Section 80E:

In computing the total income of an assessee, being an individual, there shall be deducted, in accordance with and subject to the provisions of this section

  1.  Any amount paid by him in the previous year, 
  2. Out of his income chargeable to tax, 
  3. By way of interest on loan taken by him from any financial institution or any approved charitable institution 
  4. For the purpose of pursuing his higher education or for the purpose of higher education of his relative

The deduction specified in sub-section above shall be allowed in computing the total income in respect of the initial assessment year and seven assessment years immediately succeeding the initial assessment year or until the interest referred to in sub-section above is paid by the assessee in full, whichever is earlier. This means only 8 years the deductions can be used. 

For the purposes of this section,—

(a) “approved charitable institution” means an institution specified in, or, as the case may be, an institution established for charitable purposes and 98[approved by the prescribed authority] under clause (23C) of section 10 or an institution referred to in clause (a) of sub-section (2) of section 80G;

(b) “financial institution” means a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette99, specify in this behalf;

(c) “higher education” means any course of study pursued after passing the Senior Secondary Examination or its equivalent from any school, board or university recognised by the Central Government or State Government or local authority or by any other authority authorised by the Central Government or State Government or local authority to do so;

(d) “initial assessment year” means the assessment year relevant to the previous year, in which the assessee starts paying the interest on the loan;


(e) “relative”, in relation to an individual, means the spouse and children of that individual or the student for whom the individual is the legal guardian.

Deduction Under Section 80DD and Deduction Under Section 80DDB

Deduction in respect of expenditure on training/medical treatment of a dependent, being a person with disability [Section 80DD]:

A resident individual/HUF, incurring expenditure on maintenance of relative dependent, being a person with disability, can claim deduction under section 80DD. Deduction is available in respect of any of the following:

(a) Expenditure incurred on medical treatment (including nursing), training, rehabilitation of a dependent person with disability.

(b) Amount paid or deposited under a scheme of LIC or any other insurer or UTI or specified company duly approved by the Board, for maintenance of dependent person with disability.
Dependent person with disability means:

1) In case of an individual, it will include spouse, children, parents, brothers and sisters of the individual, or any of them who is mainly or wholly dependent on such individual; and

2) In case of a HUF, it will include any member of the HUF, who is mainly or wholly dependent on such HUF.

Provided that such dependent person has not claim any deduction under section 80U.

Disability Means:-

Such person is suffering from a specified disability which generally includes blindness, low vision, leprosy-cured, hearing impairment, locomotor’s disability, mental retardation and mental illness [see section 2(i) of the Person with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 ], it will also include “autism”,

“cerebral palsy”, and “multiple disability”, referred to in clauses (a), (c) and (h) of section 2 of National Trust for welfare of Person with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999.

Person with severe disability means:-

1.A person with 80% or more of one or more disabilities, as referred to in section 56(4) of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 (1 of 1996); or

2.A person with severe disability referred to in clause (o) of section 2 of the National rust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999).


Amount of deduction

If the taxpayer incurs any expenditure as mentioned in (a) or (b) above, then a flat deduction of Rs. 75,000 is available, irrespective of the amount of such expenditure.

However, if the dependent person is suffering from severe disability (i.e., disability of 80% or above), then the amount of deduction will be Rs. 1,25,000.


Other points to be kept in mind

Following important points should be kept in mind while claiming deduction under section 80DD:

1. The taxpayer should obtain a copy of certificate (Form No. 10-IA) issued by the medical authority (fresh certificate is required in case of reassessment of disability after the expiry of the period mentioned in original certificate).

2. If the dependent predeceases the taxpayer or the member of HUF referred to above, then amount paid or deposited in (b) above, shall be charged to tax in the hands of the taxpayer for the previous year in which such sum is received.



Illustration
Brother of Mr. Raja (a resident) is totally blind and is dependent on Mr. Raja. During the year 2016-17, Mr. Raja has incurred expenditure of Rs. 10,000 on training and rehabilitation of his brother. Can Mr. Raja claim any deduction in respect of expenditure incurred by him on maintenance of his physically handicapped brother?
In this case, all the criteria of section 80DD are satisfied and hence, Mr. Raja can claim a flat deduction of Rs. 1,25,000 under section 80DD (since his brother is suffering from 100% disability).
Suppose in the above case, instead of 100% disability, his brother is suffering from disability of less than 80%, then the amount of deduction will be limited to Rs. 75,000.

Deduction in respect of expenditure on medical treatment of specified diseases. [Section 80DDB]:

As per section 80DDB, a taxpayer can claim deduction in respect of expenditure incurred by him on medical treatment of specified diseases. The provisions in this regard are as follows:


1) Deduction under section 80DDB can be claimed by an individual or a HUF, who is resident in India.

2) Deduction is available in respect of amount actually paid by the taxpayer on medical treatment of specified disease or ailment (prescribed by the Board, see rule 11DD for prescribed disease or ailment).

3) In case of an individual, the aforesaid expenditure should be incurred on medical treatment of an individual or wholly/mainly dependent spouse, children, parents, brothers and sisters of the individual; and

4) In case of a HUF, expenditure should be incurred on the medical treatment of any  member of the family, who is wholly/mainly dependent on such HUF.
The tax payer has to obtain the prescription for the medical treatment from a neurologist, an oncologist, a urologist, a haematologist, an immunologist or such other specialist, as may be prescribed.

Amount of deduction

Amount of deduction will be lower of the following:

(a) amount actually paid on medical treatment specified above; or

(b) Rs. 40,000.

However, the limit of Rs. 40,000 will be increased to Rs. 60,000, if the expenditure is incurred on medical treatment of a senior citizen (i.e., any resident individual of age of 60 years or above but less than 80 years and to Rs. 80,000 if the expenditure is incurred on the medical treatment of super senior citizen i.e. resident individual of the age of 80 years or above).
Other points to be kept in mind

Following important points should be kept in mind while claiming deduction under section 80DDB:

1. The taxpayer should obtain a copy of certificate (Form No. 10-I) issued by a neurologist, an oncologist, a urologist, a haematologist, an immunologist or such other specialist, as may be prescribed, working in a Government hospital.

2. From the amount of deduction computed in aforesaid manner, amount, if any, received by the taxpayer from any insurer or from his employer, by way of reimbursement for such expenditure shall be deducted.

Illustration

During the financial year 2016-17, Mr. Raja spent Rs. 1,00,000 on medical treatment of specified diseases of his brother (age 48 years) who is wholly dependent on him. He received Rs. 25,000 by way of reimbursement of such expenditure from a medical insurance policy. Can he claim any deduction in respect of expenditure incurred by him on medical treatment of specified diseases?
 In this case, all the conditions of section 80DDB are satisfied and hence, Mr. Raja can claim deduction under section 80DDB. Deduction under section 80DDB will come to Rs. 15,000 (i.e., Rs. 40,000 maximum limit of deduction – Rs. 25,000 reimbursement from a medical insurance policy). If his brother is a senior citizen (i.e. resident and of the age of 60 years of above but less than 80 years), then the amount of deduction will be Rs. 35,000 (i.e., Rs. 60,000 maximum limit of deduction – Rs. 25,000 reimbursement).


Suppose in above case, the amount received from insurance policy is Rs. 65,000 instead of Rs. 25,000, then the amount of deduction will be NIL (in both the situations), since the amount of reimbursement exceeds the maximum amount of deduction i.e., Rs. 40,000 or Rs. 60,000, as the case may be.

Deduction Under Section 80CCC

Deduction in respect of contribution to certain pension funds


(1) Where an assessee being an individual has in the previous year paid or deposited any amount out of his income chargeable to tax to effect or keep in force a contract for any annuity plan of Life Insurance Corporation of India or any other insurer for receiving pension from the fund referred to in clause (23AAB) of section 10, he shall, in accordance with, and subject to, the provisions of this section, be allowed a deduction in the computation of his total income, of the whole of the amount paid or deposited (excluding interest or bonus accrued or credited to the assessee's account, if any) as does not exceed the amount of one hundred and fifty thousand rupees in the previous year.

(2) Where any amount standing to the credit of the assessee in a fund, referred to in sub-section (1) in respect of which a deduction has been allowed under sub-section (1), together with the interest or bonus accrued or credited to the assessee's account, if any, is received by the assessee or his nominee—
 (a) on account of the surrender of the annuity plan whether in whole or in part, in any previous year, or
 (b) as pension received from the annuity plan,
an amount equal to the whole of the amount referred to in clause (a) or clause (b) shall be deemed to be the income of the assessee or his nominee, as the case may be, in that previous year in which such withdrawal is made or, as the case may be, pension is received, and shall accordingly be chargeable to tax as income of that previous year.

(3) Where any amount paid or deposited by the assessee has been taken into account for the purposes of this section,—
 (a) a rebate with reference to such amount shall not be allowed under section 88 for any assessment year ending before the 1st day of April, 2006;
 (b) a deduction with reference to such amount shall not be allowed under section 80C for any assessment year beginning on or after the 1st day of April, 2006.

Life Insurance Plans Covered Under Section 80CCC :-


1) Jeevan Nidhi :-

LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.


1.Benefits:

Benefit on Vesting: Provided the policy is in full force, on vesting an amount equal to the Basic Sum Assured along with accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional bonus, if any, shall be made available to the Life Assured.

The following options shall be available to the Life Assured for utilization of the benefit amount.

a) To purchase an immediate annuity
The Life Assured shall have a choice to commute the amount available on vesting to the extent allowed under Income Tax Act. The entire amount available on vesting or the balance amount after commutation, as the case may be, shall be utilized to purchase immediate annuity at the then prevailing annuity rates. Commutation shall only be allowed provided the balance amount is sufficient to purchase a minimum amount of annuity as per the provisions of section 4 of Insurance Act, 1938.

In case the total benefit amount is insufficient to purchase the minimum amount of annuity, then the said amount shall be paid as a lump sum to the Life assured.

The annuity shall only be purchased from Life Insurance Corporation of India.

or

b) To purchase a new Single Premium deferred pension product from Life Insurance Corporation of India
Under this option the entire proceeds available on vesting shall be utilized to purchase a single premium deferred pension product provided the policyholder satisfies the eligibility criteria for purchasing single premium deferred pension product.

The Life Assured will have to intimate his / her intention to go for a particular option available on the date of vesting atleast six months prior to the date of vesting.

» Death Benefit:
Death during first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.

Death after first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition, Simple Reversionary and Final Additional Bonus, if any, shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee.
In any case, provided all due premiums have been paid, the total death benefit at any time shall not be less than 105% of the total premiums paid (excluding taxes, extra premium and rider premium, if any).
The amount of annuity will depend on the payable lump sum and the then prevailing immediate annuity rates.

» Guaranteed Additions: The policy provides for Guaranteed Additions @ Rs.50/- per thousand Basic Sum Assured for each completed year, for the first five years.

» Participation in profits: Provided the policy is in full force, depending upon the Corporation’s experience the policies shall participate in profits from 6th year onwards for a Simple Reversionary Bonus at such rate and on such terms as may be declared by the Corporation.
Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a claim either by way of death or on vesting, provided the policy has run for certain minimum term.

2.Optional Benefit:

LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium under regular premium policies. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived. If the policy becomes a claim either by way of death or the policy vests before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid in lump sum.

The Accident Benefit Sum Assured may be opted for an amount upto the Basic Sum Assured subject to minimum of Rs. 1,00,000 and maximum of Rs. 50 lakh (under individual as well as group policies with LIC of India). This benefit will be available only till the vesting age.

New Jeevan Suraksha: These are Deferred Annuity plans that allow the policyholder to make provision for regular income after the selected term.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deduction, as opted by you, throughout the term of the policy or till earlier death. Alternatively, the premium may be paid in one lump sum (single premium).
Tax Benefits:
Tax relief under Section 80ccc is available on premiums paid under New Jeevan Suraksha I (Table No.147). The premiums paid under New Jeevan Dhara I (Table No.148) qualify for tax relief under Section 88.
Bonuses:
These are with-profit plans and participate in the profits of the Corporation’s annuity / pension business. Policies get a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonuses may also be payable provided policy has run for a certain minimum period.

Friday 28 October 2016

7 Things One Must Know About Post Office Saving Scheme (Term Deposit) For Deduction Under Section 80C

7 Things One Must Know About Post Office Saving Scheme (Term Deposit) :

1.                   Account may be opened by individual.
2.                   Account can be opened by cash/cheque and in case of cheque the date of realization of cheque in Govt. account shall be date of opening of account.
3.                   Nomination facility is available at the time of opening and also after opening of account.
4.                   Account can be transferred from one post office to another.
5.                   Any number of accounts can be opened in any post office.
6.                   Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
7.                   Joint account can be opened by two adults.
8.                   Single account can be converted into Joint and Vice Versa.
9.                   Minor after attaining majority has to apply for conversion of the account in his name.

The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.


10.               ​In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened e.g 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied.
Interest payable annually but calculated quarterly.
From 1.4.2016, interest rates are as follows:-
Period
Rate
1 yr. A/c
7.1%
2 yr. A/c
7.2%
3 yr. A/c
7.4%
5 yr. A/c
7.9%
Deposit Amounts​ are as follows:-
Type of Account
Minimum Deposit
Maximum Deposit
1, 2, 3 & 5 Year TD
INR. 200/- and in multiples of INR. 200/- thereafter
No limit