The Post Office Savings Account is one of the most well-known and accessible savings accounts in India. Under Section 80TTA of the Income Tax Act, a Post Office account is eligible for tax exemption for interest of up to Rs 10,000 earned in a fiscal year. India Post has outlined specific procedures that must be followed in order to resolve …
New Delhi: Did you know that interest earned on a post office savings account of up to Rs 3,500 in a financial year is tax exempted? The interest rate on the savings account of the State Bank of India is 2.7 percent while a post office savings account offers you 4 percent interest. The interest on the post office savings …
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