Whether interest earned on post office savings bank is exempt u/s 10(15).
CA PRAMESH AGARWAL (Profession) (152 Points)
04 August 2009Whether interest earned on post office savings bank is exempt u/s 10(15).
aniket
(Accountant)
(561 Points)
Replied 04 August 2009
Yes This are the specified investment U/s 10(15)
CA. Raj Bolmal
(PRACTICING CHARTERED ACCOUNTANT)
(197 Points)
Replied 04 August 2009
Yup Exempt U/s 10(15)
Hussain
(Student)
(72 Points)
Replied 04 August 2009
Now the question is why is it exempt .? it is like any other bank account ! what is the underlyitng objecvtive.
Bharat Patel
(teacher)
(35 Points)
Replied 04 May 2010
I'm iterested to know that is saving bank a/c's interest and recuring a/c's interest is exempted or not ?
Bharat Patel
(teacher)
(35 Points)
Replied 05 May 2010
Dear Friends,
Thanks, but my question is diffrent I want to know about bank saving a/c and recuring a/c not for post office saving a/c. so I request to you pl. clear this metter.
Krishna
(na)
(34 Points)
Replied 08 May 2010
It is applicable only to retired govt employees and public sector employees per https://www.incometaxindia.gov.in/Archive/Taxation_Of_Salaried_Employees.pdf
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