hi all,
There is recurring deposit scheme linked with my saving bank account. 2,450 is being deducted every month till 36 months and maturity amount will be 1,10,000.
so how and when should I calculate tax on it? Kindly concern your kind help.
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Recurring deposit scheme
Replies (4)
Quarterly interest gets accured to the deposit account, the aggregate of same at the year end is taken for assessment
My RDP will mature on 6-6-2017, then while amount of 1,10,000 will be taxable?
Actually, you should get interest certificate from the bank, and add to your income in each financial year.
okay sir, thanks a lot
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