Post Office Interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 July 2011
Post Office Interest is Taxable or Not taxable for the F Y 2010-11 Please reply
15 July 2011
Fully exempt under section 10(15)(i) of the income tax act,1961. For financial year 2011-12, CBDT Notification No. 32/2011, Dated 3-6-2011 may be followed.
15 July 2011
interest under post office savings bank is only exempt u/s 10(15)(i), ( upto 3500 from this year .... for single account and 7000 for joint a/c per year)
balance all interst from post office , viz MIS/NSC/KVP/ Time deposit/RD are taxable
balance all interst from post office , viz MIS/NSC/KVP/ Time deposit/RD are taxable
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