Postal schemes
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2011
Can any one explain me the difference between Postal Recurring Deposits (RD) and Postal Monthly Income Scheme (MIS) Schemes and difference between Postal Time Deposit and Potal Cumulative Time Deposits.
I also want to know the taxability of interest earned from the above schemes.
I also want to know the taxability of interest earned from the above schemes.
CA MANOJ GUPTA
(Expert)
21 December 2011
PORD: U make monthly contributions for the contracted term
POMIS: U deposit lumpsum say 1Lakh and get monthly income
POFD and POCFD: just like bank FD
Intt on all the schemes is taxable.
CA MANOJ GUPTA
JODHPUR
09828510543
POMIS: U deposit lumpsum say 1Lakh and get monthly income
POFD and POCFD: just like bank FD
Intt on all the schemes is taxable.
CA MANOJ GUPTA
JODHPUR
09828510543
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