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Query: If TDS is applicable on Recurring Deposits (RD)

Category: Investments

Answer: RD (Recurring Deposits) are at par with Fixed Deposits as far as TDS is concerned, for FD & RD both taken together, Bank will deduct TDS, if the Interest on FD is more then 40000 (for senior citizens 50000) in a year in a bank. TDS would be deducted @ 10% on entire interest if above limit crosses. TDS is on accrued interest, whether paid or not.

Date Posted 13-Dec-2019
Posted By Kumar Prakash
Views: 360



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