CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

TAXABILITY OF RECCURING DEPOSIT


Chahat Bansal   09 August 2020

Chahat Bansal

 11 likes  145 points

| My Other Post

A person deposited Rs 5,000 every month for 5 Years in post office RD A/C.
Total sum deposited by him is 5000*12*5 =3,00,000
And on maturity he got 3,74,000
How this interest of 74,000 is taxable ?

Deepak Kumar   10 August 2020

Deepak Kumar

 9 likes  68 points

View Profile | My Other Post

Yes it is taxable amount 74000 income from other source and TDS Will be deducted interest on recuring deposit

avater

Chahat Bansal   10 August 2020

Chahat Bansal

 11 likes  145 points

View Profile | My Other Post

74,000 is taxable in lump-sum on maturity or 74000/5 =14800 in each year ?

avater

Asha Kanta Sharma (Manager - Finance & Accounts)     10 August 2020

Asha Kanta Sharma
Manager - Finance & Accounts 
 146 likes  6435 points

View Profile | My Other Post

Entire Maturity interest will be taxable in the year of receipt


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »



Trending Tags
GST Live Class    |    x