RD Account in post Office, what about tax ?

POSTED BY OnlyPrabir ON February 11, 2014 10:37 pm ONE COMMENT

If I invest 13k per month in RD account in PO for 5 yrs..the interest which I get is 8.40% but in bank though I’ll get higher returns but there are income tax issues…so which investment will be more beneficial & hassle-free?

One reply on this article “RD Account in post Office, what about tax ?”

  1. ashalanshu says:

    Dear Onlyprabir, the PORD interest is also taxable. If TDS is not applied, it does not mean that income tax tax free. You w’d have to declare your PORD interest on your own and need to pay your due tax.

    Thanks

    Ashal

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