INTEREST ON POST OFFICE?

Question

INTEREST EARNED FROM POST OFFICE, is it taxable? If exempt under which section?

Answer 1

Under which scheme? Is it under SB a/c, RD, NSC, KVP, FD, MIS,  PLI, or PPF Account? Each account has its own exemptions under the IT act. You may visit the official website the of the IT Department for the latest information.

Answer 2

Saving bank interest from post office is taxable.

Forum on India Taxes

http://www.mytaxes.in

Answer 3

Interest earned from saving accounts ( 3.5 % p.a. ) is exempt under section 10. Interest on all other schemes, like mis,nsc.rd etc is fully taxable.,