Readers,
There was an error on the post provided by us on "Post office term deposit" article of yesterday.
Corrected portion about "Tax":
For Post office term deposit, TDS would not be deducted. However, a investor need to show in his tax returns about "Interest" as other income. Hence finally investor need to pay income tax. Though we have indicated in our article as "TDS not deducted by Post office", we also specified that it is "Tax free" which is not correct. We have corrected now in the article.
Sorry for the inconvenience caused.
Suresh
Founder at Myinvestmentideas.com
Suresh KP is the founder of MyInvestmentIdeas.com, which he has run since 2011. He has over 23 years of experience across investments, mutual funds, stock markets, insurance, taxation and financial planning, and has written 2,500+ articles for Indian retail investors. He has completed NISM Investment Adviser (Level 1 & 2) and NISM Research Analyst certifications. Articles on this site compare publicly available data for educational purposes; Suresh is not a SEBI-registered investment adviser. More about his background: About Suresh KP | X (Twitter)
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Disclaimer: This article is for education and comparison only and is not investment, insurance or tax advice. Suresh KP is not a SEBI-registered investment adviser. Investments are subject to market risks. Read all offer, scheme and policy documents carefully before making any decision. Deposits are insured by DICGC only up to ₹5 lakh per depositor per bank. Check the issuer's credit rating.