I have invested 6 years Monthly income scheme and also in 5 years Senior citizens savings scheme of Post office. Is the interest received from such investments taxable?
Moonmoon T, iks, suchithra S, and 1 other are discussing. Toggle Comments
If your income comes in taxable limit it is taxable.
Interest from any invetment is taxable except NSC interest
for tax related queries
yes the interest received by you from the post office monthly income scheme and the scss scheme is to accounted toward your income in the hand of the investor. your investment in scss scheme is also admissable under section 80 c of the income tax act for the year 2007-08 (fy) up to a limit as laid down.
it is taxable
yes, it is taxable. only the interest earned in the savings account of post office is free of tax.
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