intt on recurring deposits

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Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2010 recurring deposits with post office matured in f.y.2009-10 after a tenure of 10 years. yearly intt never shown. total intt of 10 years is 242000/- how much to be taxed in a.y.2010-11

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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31 July 2010 INTEREST SHOLUD BE TAXED ACCURED BASIC. IF YOU ARE NOT TAKE INTEREST ACCURED BASIC , THEN SHOULD TAKE IT AS WHOLE IN THE YEAR OF MATURITY.

AS PER PERSONAL OPINION, IN CASE OF POST OFFICE SAVING, PAN NO IS NOT DEMANDED BY POST OFFICE I.E IF YOUR PAN IS NOT AVAILABLE WITH POST OFFICE, THEN YOU CAN LEFT IT AS WHOLE JUST LIKE YOU HAVE IN LAST 10 YEARS.

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Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2010 how intt beyond 7 years should be taxed

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CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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31 July 2010 YES, IF YOU HAVE NOT TAKEN EARLIER, IT CAN BE TAXED IN YEAR OF RECEIPT.