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Discussion > Income Tax > Tax queries >

RD INT. Taxable on not

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finance


[ Scorecard : 55]
Posted On 11 July 2011 at 16:40 Report Abuse

Hi friends,,,

whether interest on Recurring Deposit is taxable or not??

pls. reply.

Thanks in advance for ur reply...


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U S Sharma
glidor@gmail.com


[ Scorecard : 19386]
Posted On 11 July 2011 at 16:48

ANY INTEREST FROM BANK DEPOSIT IS TAXABLE, IT INCLUDES SAVINGS BANK / RECURRING DEPOSIT/ FIXED DEPOSIT 

ONLY EXEMPTION IS PPF ACOUNT WHERE THE INTEREST IS EXEMPT U/S 10(11)

TAX ON INTEREST IS DEDUCTED FROM FIXED DEPOSIT ONLY.





CA ADITYA SHARMA
CA IN PRACTICE


[ Scorecard : 16661]
Posted On 11 July 2011 at 17:45

yes it is taxable                                         



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