post office fixed deposit for senior citizen tax liability?

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post office fixed deposit for senior citizen tax liability?

2006-07-14 04:55:19 · 3 answers · asked by K j 1 in Business & Finance ➔ Personal Finance

3 answers

Any kind of Interest Income is taxable now in India, even if the same is in the form Interest from Post office. The same is applicable even for Senior Citizen Deposit scheme. TDS is also deductible on such interests.

But if senior citizen's gross total income is less than 1.85 lacs, then you need not file return.

Further you may submit form 15H if you are below taxable limit of 1.85 lacs to avoid TDS.

CA. Deepak Bholusaria

2006-07-15 07:11:08 · answer #1 · answered by DeepakB 3 · 1⤊ 0⤋

Can you put this in proper question form, with a few more words tossed in... I don't follow.

2006-07-14 11:57:42 · answer #2 · answered by rrrevils 6 · 0⤊ 0⤋

What's the question?

2006-07-14 12:15:45 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋