September 27, 2010 10:22 pm
I have read somewhere that one can get Tax rebate under section 80L for monthly income received via Post Office MIS. Is It true.
Guys benefits of sections 80 L were withdrawn after financial year 2004-2005.
Now there is no such benefit on interest earned be it Post Office Mis or FD.
Because section 80 L gives DEDUCTIONS IN RESPECT OF INTEREST ON CERTAIN SECURITIES, DIVIDENDS, ETC. only .
One Correction Deduction is on Interest not on monthly income
yes it is true
U get Deduction Under 80 L for Interest on deposits under the Post Office (Monthly Income Account) Rules, 1987;
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