The government wants to squeeze the juice out of every means of savings and probably that is the reason that so called government has decided to levy tax on the interest obtained on Post Office savings schemes from the current financial year.
The Central Board of Direct Taxes (CBDT) has brought out a notification in this regard recently, which stipulates that any interest earned beyond Rs 3,500 (in case of individual accounts) and Rs 7,000 (in case of joint accounts) will be taxable from the running fiscal.
Thus if you have been thinking of building your retirement nest egg with Post office income at the back of the mind, than think again as policy is going to be changed and thus you have to explore other options and the best can be stock tips trading which can yield handsome returns as stock market profit beats any type of profit hands down.
