TDS on Recurring Deposits

The Government proposes to promote the recurring deposits scheme. It takes various measures on continuous basis to promote and popularize all small savings scheme including Post Office Recurring Deposit Scheme through electronic and print media as well as holding seminars, meetings and providing training to the various agencies involved in mobilizing deposits under these schemes. At present, no TDS is deducted on Post Office Recurring Deposit Scheme.

This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.