are income tax is applicable on interest earned on recurring deposit Najeeb, 20 Jun 2013

if i had a recurring deposit account of rs 20000.00 per month. interest earned in the RD account is taxable ?

Fintotal Answer

Yes, income tax applies for interest on recurring deposit. TDS does not apply on RD interest but you are supposed to declare interest income in ITR and pay the tax if your income is taxable. You can check

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