TDS is deducted for investing in a recurring deposit, if the deposit is more than Rs 40,000, then taxed at the rate of 10% per year! The ID which is found on interest is also taxed but interest is not taxed on the entire maturity account. Investors who do not have any taxable income can also get a rebate on TDS by filling Form 15G as it is within HD!
You will have to keep depositing regular money in your account, if you do not deposit the money then you will have to pay a percentage penalty every month! If you have not filled 4 installments, your account will be closed! If you invest ₹ 10000 in the RD scheme of the post office every month for 10 years then after 10 years you will get more than 16 lakhs at an interest rate of 5.8%!
The ringtone deposit scheme is currently getting an interest of 5.8%. This new rate has come into effect on 1 April 2. The Government of India fixes the interest rates of all its small savings schemes every quarter!
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