manisha (part time teaching and in practice) (210 Points)
28 December 2009PLZ TEL ME FRNDS WHETHER INTEREST ON POST DEPOSIT IS EXEMPT OR NOT U/S 80L...?????
ACTUALLY AT SOME PLACE I HV SEEN THAT DEDUCTION WAS AVAILABLE TILL A/Y 2006-07... BT I READ IN PCC THAT DEDUCTION IS GIVEN TODAYS ALSO...
IS THERE ANT CIRCULATION REGARDING ANY AMENDMENTS IN SEC 80L????? PLZ REPLY NOW.. ITS VERY URGENT
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 28 December 2009
Dear manisha,
No deduction under section 80L is available from the assessment year 2006-07.
Please visit the link given below for further reference...see point no.28
https://indiabudget.nic.in/ub2005-06/fb/bill32.pdf
CA.Tarun Maheshwari
(CA, DISA)
(7150 Points)
Replied 28 December 2009
Agree. Section 80L has been abolished and all the interests are taxable now.
manisha
(part time teaching and in practice)
(210 Points)
Replied 28 December 2009
it will exempt or not???
is it under d cateogry of intt on relief bond, etc????
manisha
(part time teaching and in practice)
(210 Points)
Replied 28 December 2009
plz tel me interest on post saving(MIS) is exempt or taxable????????
CAclubindia
