Post-office Monthly Income Scheme Decoded
Post-office Monthly Income Scheme (POMIS) gives you guaranteed return on your investment. Currently, it offers 7.80%pa (per annum) payable as monthly income. The maturity term of POMIS is five years. There is no tax deducted at source (TDS) on the interest for POMIS, but the interest income is taxable in your hands. It does not offer any tax rebate under Section 80C. The investor should be a...
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