Post office saving scheme
This query is : Resolved
Hiral Shah
(Querist)
05 July 2017
if mom holds post office saving scheme for 5years (ie lock in period) aftr completion of 5th year the balance amount in Post office saving scheme is transfered in son post office account. Then who can claim the exemption and under which section???????
05 July 2017
Interest is taxable in the hands of the mom. Principal is tax free in the hands of mom. Entire amount is tax free in the hands of son.
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