post office saving bank interest


(Querist)
27 May 2010
whether interest received from post office saving bank account is exempt under income tax act or not????


CMA. CS. Sanjay Gupta (Expert)
27 May 2010
NOT EXEMPTED.

CA. BIJENDER KR. BANSAL (Expert)
27 May 2010
agreed, it is taxable.

B.Chackrapani Warrier (Expert)
27 May 2010
Interest on post office savings bank account is tax free under section 10(15)(i)of the Income tax Act,1961 read with notification GSR 607(E) dated 9/6/1989.

RAMESH KUMAR VERMA (Expert)
27 May 2010
agreed with warrier ji,
regards,

Shyam Lal Naik (Expert)
27 May 2010
Exempt u/s 10(15)(i)

CA. BIJENDER KR. BANSAL (Expert)
27 May 2010
thanks for update

CA Ravi Sisodia (Expert)
27 May 2010
yes exempt


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