How to calculate accrued interest on Post office Recurring Deposit for IT purpose?



In case of PO Recurring deposit accounts, the principal amount and the interest thereon is payable at the maturity only and the post offices neither have any ready reckoner , like NSCs, for calculation of accrued interest nor issue any certificate for such interest. How to work out accrued interest on RD deposits for showing it under item ‘Income from other sources.’ If entire interest is to be shown in the year of actual receipt, instead of accrual basis, it may lead to heavy tax incidence at higher rate.

5 Replies to “How to calculate accrued interest on Post office Recurring Deposit for IT purpose?”

  1. There are many intrest caculators available online,,u can calculate intrest online there,,,eg icici prudentals sit and others….browse google please



  2. For an amount of Rs 100/- pm the annual interest would be about Rs 53/-
    After 5 years Rs 100/- p.m. becomes Rs. 7289/-.


  3. I HAVE ACCURED INTEREST CHART UPTO 30.11.2011. BUT NO FIGURE AVILABLE AFTER THE RATE OF INTEREST CHANGE W.E.F.01/12/2011 AND THEN W.E.F. 01/04/2012.

    Date of 02.09.1993 01.01.1999 15.01.2000- 01.03.2001 01.03.2002- 01.03.2003
    opening 31.12.1998 14.01.2000 28.02.2001 28.02.2002 28.02.2003 30.11.2011

    Maturity 02.09.1998- 01.01.2004- 15.05.2005- 01.03.2006- 01.03.2007- 01.03.2008
    Date 31.12.2003 14.01.2005 28.02.2006 28.02.2007 28.02.2008 30.11.2016

    Period Rupees Rupees Rupees Rupees Rupees Rupees

    First Year 84.00 78.00 69.00 60.00 56.00 50.00

    Second Year 251.00 229.00 207.00 177.00 167.00 145.00

    Third Year 443.00 402.00 360.00 305.00 286.00 200.00

    Fourth Year 656.00 594.00 531.00 445.00 417.00 412.00

    Fifth Year 900.00 808.00 729.00 598.00 559.00 482.00

    ===============================================================
    TOTAL 2334.00 2111.00 1896.00 1585.00 1485.00 1289.00
    ===============================================================


  4. i have a RD ACCOUNT WITH POST OFFICE WITH THE DEM OF RS.3000.00

    PL TELL ME WHAT IS THE INTT FROM 01-04-2012 TO 31-03-2013

    AND HOW CALCULATE… THX IN ADVANCE





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