HDFC monthly income deposit

Hi,

Monthly or annually interest payable deposits income is taxable.Other principal amount is already taxed.don't worry this 60k will not be taxed again ,At the time of maturity/termination.

Originally posted by : O.D.SHARMA
	Hi, Monthly or annually interest payable deposits income is taxable.Other principal amount is already taxed.don't worry this 60k will not be taxed again ,At the time of maturity/termination.

Thank you for your reply.  But still this incoming 60K amount will have to be mentioned in the IT return form?  If yes, I suppose it will have to be listed under Schedule EI, then under which of the following heads?  Is it no.5 Others?  Please do answer.

Schedule EI Details of Exempt Income (Income not to be included in Total Income)

1 Interest income
2 Dividend income
3 Long-term capital gains from transactions on which Securities Transaction Tax is paid
4 Net Agriculture income /any other income for rate purpose
5 Others, including exempt income of minor children

No ,No need to put 60K  into future IT  return.This amount already taxed and part of your earnings/Capital.Interest income you have to put will be the interest you are taking monthly in IT return of the year ..

Originally posted by : O.D.SHARMA
	No ,No need to put 60K  into future IT  return.This amount already taxed and part of your earnings/Capital.Interest income you have to put will be the interest you are taking monthly in IT return of the year ..

Thank you, sir.

No need to mention this amount even in the Scehdule Exempt Income 'Others' category in the IT return form?  Would that be OK? I was worried, that is why I was asking.

Hi Vivekanand.No,Dear no need to put into current year return of IT