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 http://www.knowledge.fintotal.com/bank-deposit/Tax-Benefit-of-Recurring-Deposit-RD/6453

No Comment Posted



All Tax Queries

Get the all financial products under one roof only at

you will NEVER GO WRONG with us!

Unbiased . Best Deals . Appropriate Products . No Mis-selling