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Tax free deposits in banks

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BAIJU KUMAR ROY (Querist)
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15 November 2011 Dear Sir

The earned interest on Tax Free Fixed Deposits with any banks is also tax free or taxable, please let me know ?

Thx

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 November 2011 If the deposits made under Tax free scheme framed under Government the same will be tax free or exempted from tax.

otherwise Interest is taxable

BAIJU KUMAR ROY

BAIJU KUMAR ROY (Querist)
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16 November 2011 Suppose i make a deposit under SBI TAX SAVINGS SCHEME, 2006 with five years.

For principle Sec 80C applicable, i know but what about the interest accrued on this priciple in five years

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