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Interest on post of rd

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(Querist)
19 March 2018 Is interest on post of RD for 5 Years is exempt, if yes then under which section
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Kailas Mate

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Kailas Mate (Expert)
19 March 2018 Tax exemption for your recurring deposit is only possible if you invest in RD (Indian post).It should also be at least a 5-year scheme. This is possible under Section 80C of the Income Tax Act of 1961. The maximum taxable deduction can be for Rs. 1,00,000
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lokesh

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lokesh (Querist)
19 March 2018 whether this is for principal payment or interest received u/s 80C
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
19 March 2018 Lokesh, the above deduction is for Principal invested
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
19 March 2018 Interest is not exempt
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lokesh

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lokesh (Querist)
21 March 2018 Is this deduction only available to individual or also to relatives?

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