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