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Post Office TD Interest taxable?
i have 4 5-year Term Deposits in the Post Office. I maybe getting more than 3 lakhs per year in interest. Is this income chargeable to tax. do I have to file my returns?
Replies (2)
Yes, such interest would be taxable under IFOS. The post office would have deducted tax at source on such interest and you are required to file ITR in order to claim refund of such tax (provided you have no other income exceeding the exemption limit).
Yes the interest is taxable under income from other sources
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