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For much more urgent difficulties, contact the help party through Alive Talk, current email address, otherwise cellular telephone. The new money within the Postoffice RDs is not qualified to receive income tax offers below Part 80C of your Tax Work, 1961. However, the eye income are taxable according to the private’s taxation slab speed. Also, Post-office RDs is actually subject to TDS away from 10%, should your attention money exceeds Rs 40,100 (INR fifty,100 to have senior citizens). Let’s bring, for example, the attention of RD investment try INR 72,100000 yearly. Although not, the new investor has to spend income tax for the remaining INR 32,100000.
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Analogy step 3 – Calculating the rate of an investment with the compound attention algorithm
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