Can anyone help me with this question..
How to treat interest on recurring deposits with income tax act. Is it exempt and if it is under which section.
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Interest on Recurring deposit.
Replies (3)
Taxable under head 'Income from Other Sources'
thank your for quick response... is it exempt by any section for a chance under chapter VI A
Not exempt under any section & added to taxable income on accrual basis .......
No particular deduction for RD interest under chapter VI A; except commonly available 80C, 80D, 80G etc.....
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