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Intt. On Post Office Savings Bank A/C

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(Querist)
26 July 2009 whether Intt. on Post Office Savings Bank A/C is exempt From TaxU/S 10(15) (i)
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(Querist)
26 July 2009 plz tell me under which head income from fdr made by firm taxable.is donation allowed from income from other sources
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
26 July 2009 To Mr.Vishal

If the FDR is in relation the business, interest thereon is business income. Otherwise such interest is to be offered for taxation under the head'income frome other sources.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
26 July 2009 To Mr.Ankit
Interest on Post Office savings bank account is exempt u/s 10(15)(i) of the Income tax Act,1961.
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