RD interest taxation - Basunivesh

Q & A Forum › Category: Banking › RD interest taxation

deepak asked 5 years ago

I have an RD account which is been running for last 15 months. Last last financial there was an interest amount which is incurred for this RD account. This account is still active. As the Bank interest statement, It is incurred interest. Wanted to understand, does this incurred interest income is taxable?

Deepak

Question Tags: RD, RD interest taxation

1 Answers

0 Vote Up Vote Down

basunivesh Staff answered 5 years ago

Deepak-Yes it is taxable and you should show it on yearly base (exactly like FDs).

deepak replied 5 years ago

Thank you Basu..