23 December 2011
Mr. x had received a lumpsump amount through cheque in respect of post office r.d. contributed by him for past 10 years. the amount consists of both interest and principle.What will be treatment of tax for this?
26 December 2011
TDS has to be deducted by post office on the interest portion @ 10% if the interest is greater than Rs.10000 according to section 194A of Income Tax act.
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