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post office monthly income scheme

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 January 2011 Re- post office monthly income scheme
a)is the amount allowed as deduction u/s 80C.
b) taxability of of the interest
c) tax treatment of amt received on maturity
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 January 2011 1. 80C deduction will not be allowed.
2. Interest is fully taxable.
3. Maturity amount is tax free.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
31 January 2011 Post Office Monthly Scheme give 5% Bonus at the time of maturity over and above Interest. I think that bonus is also taxable
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