income tax

Shakir Najfi (Querist) 31 December 2017 This query is : Resolved
Sir
if recurring deposits mature in 5 years, how much is the tax liability..?

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Guest (Expert) 31 December 2017
Premature & vague question.Ask your question when the RD matures by providing information about the amount of interest you earned in addition to your total income for that year in which the RD matures.

B.Chakrapani Warrier (Expert) 01 January 2018
Interest is taxable. Principal is tax free.

Ms.Usha Kapoor (Expert) 01 January 2018
Earlier Recurring deposits were not taxable. In the latter part of 2015 this exemption has been removed and now every year 10% of Income Tax is levied on Recurring deposits. Interest is not taxable up to RS.10000 income and anything above is taxable.

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