DEDUCTION...

Intrest on post office deposit or intrest on deposit can be allowed as deduction?
Replies (2)
Quick Summary
This discussion clarifies whether interest earned on Post Office deposits is eligible for tax deduction. Generally, interest is taxable. However, senior citizens may be eligible for a deduction of up to £50,000. Tax-saving scheme deposits and their interest are typically tax-free for both principal and interest.

No....

Interest is taxable

Deduction allowed to only senior citizen upto 50000
Which deposit and interest can you clearly say
if it is for tax saving scheme deposit n interest they are tax free both sides principal n interest

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