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Reccuring Deposit Taxablility
Can we claim deduction on investment in RD or does it attract taxability on Maturity amount ?
Replies (5)
Quick Summary
It is taxable on maturity amount.. if interest exceeds 40000 rupees then tds should be deducted
Only interest amount ?
The taxability is only of Interest. You should offer the interest for tax on accrual basis rather than maturity basis. Investment in RD is not an eligible deduction for tax purposes.
You can not claim deduction on investment in RD, it's not eligible for deduction.
Only interest amount is taxable as income from other sources
Only interest amount is taxable as income from other sources
Agree with raj ji
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