Recurring Deposit Tax Implication

Tax implication on recurring deposit

Interest earned from RD is added to your income and taxed as per your slab

The income you earn by way of interest on the recurring deposit is added to your other income, if any, and taxed as per the slab system.

No TDS is deducted for interest income upto Rs 10,000 in a financial year. Over and above this limit, TDS will be deducted on the interest earned at the rate of 10%.

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Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2016 - 2017

Best 10 ELSS Mutual Funds to invest in India for 2016 - 2017

1. DSP BlackRock Tax Saver Fund

2. Axis Tax Saver Fund

3. Invesco India Tax Plan

4. BNP Paribas Long Term Equity Fund

5. Tata India Tax Savings Fund

6. Franklin India TaxShield

7. ICICI Prudential Long Term Equity Fund

8. IDFC Tax Advantage (ELSS) Fund

9. Birla Sun Life Tax Relief 96

10. Reliance Tax Saver (ELSS) Fund

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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