I am the member of Post Office Recurring Deposit with Rs.500 per month. Is Post Office Recurring Deposit Accounts exempted from tax?
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I am the member of Post Office Recurring Deposit with Rs.500 per month. Is Post Office Recurring Deposit Accounts exempted from tax?
Post Office Recurring Deposit is taxable.
It is taxable. Tax will be payable only on interest portion & not on gross portion.Quote:
Originally Posted by samir
I don't think post office Recurring Deposit accounts are exempted from any type of tax.I really want to know about the recurring deposit accounts in banks.My one friend just open this account in Axis Bank and he got really good offers.Can anyone know more about this???