Tax on long term accumulation

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  1. Sanjoy Acharjee

    Sanjoy Acharjee New Member

    An employee contributed monthly subscription to an Employees' Co-Operative Society or School Co-Operative Society for years exceeding 15 years. The Society is registered and is meant for helping members by short term or long term loan. The interest on long
    term loan eligible for tax deduction.
    After retirement, the employee gets total the accumulated amount in a single or multiple
    payment.
    The question is whether the accumulation is taxable as 'income from others source'?
     
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