Interest received from post office monthly incom scheme(mis)
This query is : Resolved
08 December 2017
I have received monthly interest on Post Office Monthly Income Scheme (MIS). I received in FY 2016-17 approx 36000/- interest through my Post Office Monthly Income Scheme (MIS). Is this interest is taxable Under Income Tax Act? Post Office never make any TDS on MIS. Please advice, Is this income should be shown in ITR column of INCOME FROM OTHER SOURCES or NOT? Please give me your expert opinion?
08 December 2017
Taxable, the person receiving such interest will have to show it as income from other sources.
08 December 2017
Yes.... It's taxable. You ll have show it IFOS in your ITR.
09 December 2017
Interest on PO MIS is always taxable.
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