Interest on recurring deposit is deducted?
This query is : Resolved
17 August 2013
dear sir,
can i deducted interest on recurring deposit in bank in 80C or not if it is deductabel so which section can i deducted interest?
can i deducted interest on recurring deposit in bank in 80C or not if it is deductabel so which section can i deducted interest?
18 August 2013
Interest earned on recurring deposit is an income. So You cannot "deduct" it.
May be your asking if it qualifies for tax deduction u/s 80C. The answer is no.
Interest earned on RD is taxable and cannot be claimed for deduction u/s 80C.
May be your asking if it qualifies for tax deduction u/s 80C. The answer is no.
Interest earned on RD is taxable and cannot be claimed for deduction u/s 80C.
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