Is interested accrued from ssa schemed in post office is taxable in hand of parents or not?
Ashim kr Ray (social service) (1691 Points)
19 June 2016Ashim kr Ray (social service) (1691 Points)
19 June 2016
Ruchi
(CA)
(1410 Points)
Replied 19 June 2016
Currently there is no notification in effect which exempts interest on SSA . Hence yearly interest would be taxable in the hands of parent (whose income is higher) of the child.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)