Post office scheme and indira vikas patra
This query is : Resolved
Anish Modi
(Querist)
13 May 2012
Hi,
Is interest income from Post office scheme and Indira Vikas Patra taxable
Regards
Anish
Is interest income from Post office scheme and Indira Vikas Patra taxable
Regards
Anish
CA PARAS BAFNA
(Expert)
13 May 2012
Yes, Interest is taxable.
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CA Mayank Chopra
(Expert)
14 May 2012
Dear Anish,
1) Rebate under section 80 C not admissible for Post office scheme & Indira Vikas patra.
2) Interest income on Post office scheme & Indira Vikas patra is taxable, however no TDS is deducted.
3) Post office scheme & Indira vikas patra are exempt from Wealth Tax.
1) Rebate under section 80 C not admissible for Post office scheme & Indira Vikas patra.
2) Interest income on Post office scheme & Indira Vikas patra is taxable, however no TDS is deducted.
3) Post office scheme & Indira vikas patra are exempt from Wealth Tax.
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