Taxpayers Debate Small Savings Schemes vs. FDs

Taxpayers in India are discussing whether to invest in small savings schemes like PPF, SCSS, and NSC or fixed deposits (FDs).

The new tax regime does not allow tax deductions for these small savings schemes, which was a big reason people chose them.

However, these schemes offer higher interest rates than FDs and the income from them is not taxable.

FDs are more flexible with no lock-in period, but they offer lower interest rates.

Experts suggest that investing a part of your money in small savings schemes can be good for long-term goals like retirement or your child's future.