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NRO Tax Saver Fixed Deposit for NRIs to Save Tax under 80C

If you are an NRI and have income in India like rental income and your annual income is more than 2.5 lakh, the basic exemption limit then you can reduce your taxable income by investing in an NRO tax saver fixed deposit. NRO tax saver Fixed Deposit has 5 year lock-in period and it will be eligible for tax deduction under Section 80C of Income Tax Act, 1961. Investment in NRO tax saver FD also given NRIs an opportunity to diversify their investments in addition to other investments permitted in Section 80C like ELSS, PPF, NSC, or NPS. 
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