Jun 252011
 

By making it mandatory for individuals to declare investments in their tax returns, I-T department has brought all such deposits under its scanner. In an attempt to monitor all deposits made under post office schemes and bring them at par with bank interest earnings, the Central Board of Direct Taxes (CBDT) has notified that income from post office savings schemes will be taxed from the current financial year. A CBDT notification said a declaration to this effect has to be made in the income tax […]