11 March 2010
Please let me know the treatment of interest on Postoffice MIS and what is the treatment of principal amount at the time of receipt? If the interest is exempted then under which section?
11 March 2010
Interest is taxable evey year of accrual, principal amount is not taxable on maturity (also there is no deduction under section 80 C at the time of investment).
CAclubindia
