strive2bebetter
New member
Say if I have 1L invested on CRED Mint for a year and have accumulated return of 9k. How would the tax look like for instance where I withdraw nothing this FY?
I've downloaded the interest certificate and there are multiple sections such as:
1. Opening interest as on 01 Apr 2023 (A).
2. Interest paid out (B).
3. Closing interest as on 31 Dec 2023 (C).
4. Capitalized interest (D).
5. Total interest earned during the financial year (E) = (D+B+C-A).
It seems to be a pretty bad deal(risk/reward wise) if I have to pay tax on accumulated (not yet realised) returns as 9% becomes 6.3% post taxes. What's your opinion?
I've downloaded the interest certificate and there are multiple sections such as:
1. Opening interest as on 01 Apr 2023 (A).
2. Interest paid out (B).
3. Closing interest as on 31 Dec 2023 (C).
4. Capitalized interest (D).
5. Total interest earned during the financial year (E) = (D+B+C-A).
It seems to be a pretty bad deal(risk/reward wise) if I have to pay tax on accumulated (not yet realised) returns as 9% becomes 6.3% post taxes. What's your opinion?