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Exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 October 2012 HELLO FREINDS
IS 5YEAR POST OFFICE RECURRING DEPOSITE IS EXEMTED UNDER INCOME TAX ACT OR NOT ????............. PLZ......... REPLY
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
05 October 2012 No, Its not exemption and again interest on such deposit is taxable for income tax.

OM SAI SRI SAI JAI JAI SAI
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SANYAM ARORA

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SANYAM ARORA (Expert)
05 October 2012 No interest will be taxable under I.T Act
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Pankaj Gupta

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Pankaj Gupta (Expert)
06 October 2012 Exemption of so deposited amount its not available. Also the interest earned will be taxable.
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