HELLO FRIENDS, IS POST OFFICE SAVINGS BANK A/S INTEREST TAXABLE OR EXEMPTED.
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INTEREST ON POST OFFICE SAVINGS BANK A/C
Replies (13)
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.
its 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.
WHO IS RESPONSIBLE FOR THIS BLUNDER...
PLEASE SEE
/forum/who-is-responsible-for-this-blunder--82380.asp
BY: www.anshulbafna.blogspot.com
WHO IS RESPONSIBLE FOR THIS BLUNDER...
PLEASE SEE
/forum/who-is-responsible-for-this-blunder--82380.asp
BY: www.anshulbafna.blogspot.com
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)
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