5 replies on this article “Is the interest taxable on RD even if it does not exceed Rs 10,000 ?”

1. anurodh says:

   March 17, 2014 at 8:57 pm

   Thanks Anshal

   Reply
2. ashalanshu says:

   March 16, 2014 at 6:38 pm

   Dear Anurodh, TDS is Tax deducted at source. So under TDS, the govt. recovers Tax at source due from you. Your actual tax liability may be lower or higher than the TDS amount so you need to pay more or claim refund as the case may be. The tax deducted from your salary is also TDS.

   Thanks

   Ashal

   Reply
3. anurodh says:

   March 16, 2014 at 5:38 pm

   what is the differnce between tax and TDS??
   who pays TDS and to whom??

   Reply
4. ashalanshu says:

   March 15, 2014 at 9:22 pm

   Dear Anurodh, interest from SB account, Fd account, Rd account all are taxable. In case of SB account due to section 80TTA, the interest income is tax free upto 10000 Rs. No benefit is available on Rd or FD interest amount. For FD interest, TDS is applicable beyond 10000 Rs. earning in a FY. This is for TDS. Less than 10000 means no TDS but it does not translates into no Tax. 🙂

   Thanks

   Ashal

   Reply
5. Mr.Nilesh says:

   March 15, 2014 at 7:52 pm

   yes its taxable even though it is below 10000.

   Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.