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INTEREST FROM TERM DEPOSIT WITH POST OFFICE

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(Querist)
23 November 2010 Please tell me whether Interest from term deposit with Post Office is tax exempt and under which section.In ready recknoner under Tax Savings Scheme, it is mentioned that interest from time deposit of 1,2,3 & 5 years is taxable.Please clarify.

Awaiting your response.
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CA. BHAVIK DILIPBHAI MEHTA

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CA. BHAVIK DILIPBHAI MEHTA (Expert)
24 November 2010 As per section 10(15) interest from post office savings is exempt from tax.

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