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

This topic contains 1 reply, has 2 voices, and was last updated by  Mukul Mishra 2 years, 7 months ago.

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  • #48466

    Mukul Mishra
    Member

    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?

    #48467

    Abhimanyu
    Member

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

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