Does Tap Invest deduct any TDS on my interest income? How are my earnings taxed?

Modified on Fri, 24 May at 3:21 PM

Tap Invest/ Lendbox are not liable to deduct any TDS on your Interest Income. It is your responsibility to declare your interest income under Income from Other Sources (IFOS) in your ITR. 

The 'interest income' earned by lending through Tap Reserve will be considered as Income from Other Sources (IFOS) and shall be taxed at the income tax rate that you fall under. 

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