Need A Financial Product › Forums › Tax Savings › Is the interest below Rs. 10,000 on recurring deposit taxable

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • November 15, 2014 at 9:14 am #48466
    samkapoor77
    Keymaster

    I am interested in opening a recurring deposit with SBI. I have calculated that I will get interest of Rs. 9,000 approximately in a year. If the interest on recurring deposit does not exceed Rs. 10,000 in a financial year, will it be taxable?

    November 18, 2014 at 7:48 am #48467
    Sameer Kapoor
    Participant

    Though your bank will not deduct TDS on interest of recurring deposit, but the amount will be taxable in your hands.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.