Post office senior citizen scheme interest is exempt or taxa
This query is : Resolved
22 August 2013
Dear Sir
With reference to above i am a BHEL Employe i had taken VRS on 2009-10 Year and what ever amount received from Company same is TDS deducted from All Received Amount. my query is som amount Invested in POST OFFICE in Special sheme for same is Interest Received of Rs. 65,000/- for the year09-10, Rs.90,000 from 2010 to 2013 is it taxable or Exempt. If exempt under which Section. Post Office Persons are not Deducted TDS on that Income. Please Send Me Sir
With reference to above i am a BHEL Employe i had taken VRS on 2009-10 Year and what ever amount received from Company same is TDS deducted from All Received Amount. my query is som amount Invested in POST OFFICE in Special sheme for same is Interest Received of Rs. 65,000/- for the year09-10, Rs.90,000 from 2010 to 2013 is it taxable or Exempt. If exempt under which Section. Post Office Persons are not Deducted TDS on that Income. Please Send Me Sir
22 August 2013
You should fill form 15H for non deducting of tds and submit it to post dept for the same, then they will not deduct any tds on it.
Since you are a senior citizen your total income is exempted upto Rs.2,50,000 if you ag is bet 60-79 years.
Since you are a senior citizen your total income is exempted upto Rs.2,50,000 if you ag is bet 60-79 years.
22 August 2013
Interest is taxable presuming that the deposit is covered under 'Senior citizens Saving Scheme Rules,2004. Interest is subject to TDS.
22 August 2013
If after filling form 15H and if your total income for the year is below the basic exemption limit mentioned, then even if int is on the amount deposited under Senior citizen savings scheme rules,2004 still no tds will be deducted.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- EPF FULL & FINAL RULES IN 2026
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Management System (IMS)
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
