Interest received from post office monthly incom scheme(mis)
This query is : Resolved
08 December 2017
I have received monthly interest on Post Office Monthly Income Scheme (MIS). I received in FY 2016-17 approx 36000/- interest through my Post Office Monthly Income Scheme (MIS). Is this interest is taxable Under Income Tax Act? Post Office never make any TDS on MIS. Please advice, Is this income should be shown in ITR column of INCOME FROM OTHER SOURCES or NOT? Please give me your expert opinion?
08 December 2017
Taxable, the person receiving such interest will have to show it as income from other sources.
08 December 2017
Yes.... It's taxable. You ll have show it IFOS in your ITR.
09 December 2017
Interest on PO MIS is always taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- EXPORT COMMERCIAL INVOICE HSN CODE
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- LIC maturity claim whether taxable
- Bank details not Visible on Traces Portal
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
