Is there any deduction on recurring deposit?

Forums Exemptions Is there any deduction on recurring deposit?

Is there any deduction on recurring deposit?

I own a recurring deposit account. Is any tax deduction available for me?

Profile photo of Sagar Dalavi Asked By: Sagar Dalavi 1 replies 0 helpful answers Last Updated: 4 months, 3 weeks ago
  • Profile photo of Sagar DalaviSagar Dalavi
    Participant

    I own a recurring deposit account. Is any tax deduction available for me?

  • Profile photo of Chetan ChandakChetan Chandak
    Moderator

    Tax exemption for your recurring deposit is only possible if you invest in RD with India Post. It should also be at least a 5-year scheme. The maximum taxable deduction can be for Rs. 1,50,000 which will all the savings investments that are eligible for tax deduction under Section 80C.

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