Please Help: Direct Tax
Posted Date : 28-Aug-2012 , 02:03:22 pm | Posted By Rashmi
Maturity amount recieved form MIS post office scheme is eligible for tax rebate u/s 80 c
Category : Income Tax | Answers : 0 | Comments : 2 | Hits : 138
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neha gupta
28-Aug-2012 , 05:18:56 pmMaturity amount received from MIS POS will be added to capital account and will be tax free.Interest on MIS earned monthly will be taxable.No rebate u/s 80C
CA Ankur Bubna
30-Aug-2012 , 12:30:23 amInterest used to be tax-free u/s 80L, but that has been withdrawn way back and 80C is also not eligible for bonus and principal received on maturity.