Income received om maturity of recuring deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 July 2012
whether the recurring deposit (five years)maturity amount is taxable or not. The TDS has been deducted.
Amol S Joglekar
(Expert)
26 July 2012
Choice is with the assessee to show the income on 'year on year' basis or lumpsum in the year of maturity. TDS shall be claimed in the year of deduction.
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