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Tax treatment of RD in post office
my rd is matured from post office so i want to know its tax implications
Replies (9)
Interest income taxable under IFOS.....
and what about principle amount???
Not taxable ...... (its capital receipt)
actually the RD was made by me almost 4-5 years ago and i am sole proprietor but i didn't show the same in my book and now it has been matured .
Do u maintain individual balance sheet separate with firm balance sheet, if yes, than u can show in your personal balance sheet
no .i dont..
Is it merged with firm balance sheet
yes because i am individual proprietor
Frnd, In IT Return they are not asking for Individual balance sheet details to be clubbed with Business balance sheet. They asking only Business details
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