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INterestON MIS

This query is : Resolved 
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(Querist)
16 July 2010 Interest On MIs Will Be exempt Or Not If EXempt then which section
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
16 July 2010 I think you are talking about Monthly Income Scheme of Post Office.

Interest is taxable under the head Income from Other sources.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
16 July 2010 Agreed, Interst on Monthly Income scheme is taxbale under Income from other sources.
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