« Top Headlines » Open DEMAT Account in 24 hrs  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal «  Finmin, MCA differ on taxation policy for LLPs... ICFAI to start pvt varsities across India... » SBT unveils tax saver term deposit scheme August, 17th 2006 The State Bank of Travancore (SBT) has unveiled a new deposit scheme, "SBT Tax Saver Term Deposit Scheme", with effect from August 16. As per the scheme, a depositor can claim income tax exemption up to a maximum of Rs 1 lakh under section 80C of the Income Tax Act in a financial year. The deposit has to be made for a period of 5 years and will earn interest at 8 per cent per annum. The annualised return from the deposit will be 9.72 per cent. The SBT tax saver term deposit can be opened in a single name or jointly with another individual including a minor, either as a simple or a cumulative term deposit, according to the bank. Being a tax saver scheme, the depositor's PAN has to be quoted while opening the deposit. The bank added that premature withdrawal or loans were not permitted under the scheme.