post office monthly income scheme
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2011
Re- post office monthly income scheme
a)is the amount allowed as deduction u/s 80C.
b) taxability of of the interest
c) tax treatment of amt received on maturity
a)is the amount allowed as deduction u/s 80C.
b) taxability of of the interest
c) tax treatment of amt received on maturity
31 January 2011
1. 80C deduction will not be allowed.
2. Interest is fully taxable.
3. Maturity amount is tax free.
2. Interest is fully taxable.
3. Maturity amount is tax free.
31 January 2011
Post Office Monthly Scheme give 5% Bonus at the time of maturity over and above Interest. I think that bonus is also taxable
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