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Tuesday, January 12, 2016

Income Tax on Recurring Deposits

 

Income Tax on Recurring Deposits

Taxation on Recurring Deposit is minimal since Tax Deducted at Source (TDS) is not applicable on RDs. However interest from RD is not tax free as individuals have to cite this as a part of their IT returns and thus income tax is to be paid on interest earned from a Recurring Deposit at the tax slab rate applicable to the RD holder. Thus, TDS is not deductible on the interest paid by banks but the investor still needs to include the interest accrued during the year in his / her income tax return.

Invest Rs 150000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

There are a lot of mutual funds that customers can choose from but some of the best Tax Saver mutual funds in India right now are:

Top 10 Tax Saver Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan
It must be remembered that this list is not set in stone as improvement or reduction in performance of the mutual fund could change the position of these funds among the top 10 tax saving mutual funds in India.

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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Invest in Tax Saving Mutual Funds Download Any Applications
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Buy Gold Mutual Funds Invest Now