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Rd maturity and interest

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 February 2018 Dear Sir,
One of my cousin have invested in RD from 1st april 2015 @ 6000 per month, the tenure of RD is five years...

So my two questions

1. Is there is any exemption available under 80 c for deposits made in RD

2. In which year the interest component will be taxable because if the RD continues for five years, he will get annualised interest @ 8.4 or if breaks in between interest rates will be lower..

So whether interest should be taxable in the year of maturity to know the exact amount of interest for tax payments
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Expert : Anonymous

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Expert : Anonymous (Expert)
06 February 2018 1. No...

2. When he earn taxable income the RD interest calculatd as Interest Income....
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 February 2018 so according to you the taxability will be at the time of maturity...

Or i have to calculate interest on due basis yearly and shows in ITR to avoid overall burden in the year of receipt
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RAJA P M

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RAJA P M (Expert)
08 February 2018 You will calculate yearly basis...
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