Post Office Savings bank interest

Hi Pramesh,

Yupp Int. income on Post office savings bank a/c is exempt from tax as this are specified investments u/s 10(15).

hi,

I agree with Tinku

Exempt u\s 10(15)

exempt ..........

Yes This are the specified investment U/s 10(15)

Yup Exempt U/s 10(15)

Now the question is why is it exempt .? it is like any other bank account ! what is the underlyitng objecvtive.

I'm iterested to know that is saving bank a/c's interest and recuring a/c's interest is exempted or not ?

Dear Friends,

Thanks, but my question is diffrent I want to know about bank saving a/c and recuring a/c not for post office saving a/c. so I request to you pl. clear this metter.

It is applicable only to retired govt employees and public sector employees per https://www.incometaxindia.gov.in/Archive/Taxation_Of_Salaried_Employees.pdf