SEO Sai Gr. Hosp.
211775 Points
Posted on 28 October 2017
Interest earned on a savings account with post office is exempt to the extent of Rs 3,500 in the case of an individual account.
In case of a joint account, the exempted amount is Rs 7,000.
This exemption is in terms of Notification No. SO 1296(E) dated June 3, 2011. [vide sub-clause (i) of clause (15) of Section 10 of the Income Tax Act]