INTEREST ON POST OFFICE SAVINGS BANK A/C

exempted......

Interest recieved from savings account in post office was exempt u/s 80L (deduction in respect of interest on certain securities,dividends,etc.).

No deduction u/s 80L is available from assessment year 2006-07.

Savings Bank interest is taxable from AY 06-07 onwards.

fully exempted without any limit

fully taxable....not exempted any where

Agreed. It is Fully Taxable.

interest on post office saving bank is taxable form a/y 06-07 but interest on term deposit with post office for 5 year or more is exempt.

Interest on Post Office Savings Bank Account is Exempted under Section 10(15) of the Income Tax Act.

"Interest recieved from savings account in post office was exempt u/s 80L (deduction in respect of interest on certain securities,dividends,etc.).

No deduction u/s 80L is available from assessment year 2006-07."

Agreed..

Interest on post office savings account is fully exempt u/s 10(15), as it is one of the notified securities mentioned in the sec 10(15)