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Income tax return

28 July 2016

if i filling my ITR 1 and dont want to give my bank interest details then can i file my ITR 1 AS I DONT KNOW MY INTEREST EXACTLY AND DONT WANT 80 TTA DEDUCTION

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11 Replies

HETALSURESHBHAITHACKER (CA Practice ) (21 Points)
Replied 28 July 2016

You have to provide Bank detail in your ITR.. if you do not have Interest Income detail than also you can file your ITR as Interest upto Rs.10,000/- is allowable u/s 80TTA.

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 28 July 2016

Bank interest amount can be traced from your bank passbook (get it up to date).

Udgam Koomar (Tax Technologist) (1949 Points)
Replied 28 July 2016

Get yr statement/passbook n get interest from there.

Ayush Maheshwari (Student) (138 Points)
Replied 28 July 2016

if I don't want to claim any 80TTA deduction than

S. Shiroor (Others) (1207 Points)
Replied 28 July 2016

Is your Savings bank interest above 10K??

Ayush Maheshwari (Student) (138 Points)
Replied 28 July 2016

no my interest is very low

Sanjeev (Asst.AccountsManager) (87 Points)
Replied 28 July 2016

If your interest less than 10000

then its okkk

CA Rahul Sharma (Asisstant Manager Finance) (697 Points)
Replied 28 July 2016

If interest amount is low (below rs 10,000) then not so required to show it, you may ignore it.

RONAK JAIN (Student CA Final ) (39 Points)
Replied 29 July 2016

U need to show the bank account interest and claim deduction. If u don't want to show ur bank account interest then this would lead to concelment of income and penalty may be initiated. Even though the deduction can be claimed under s.80TTA

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ajay567soni (Student CA IPC / IPCC) (22 Points)
Replied 29 July 2016

A LLP formed on 02/01/2016. and it has loss of Rs. 13,00,000/- in financial year 2015-16.

Is it liable for Tax Audit ???

Sai Satish (Final ) (128 Points)
Replied 30 July 2016

Q. if i filling my ITR 1 and dont want to give my bank interest details then can i file my ITR 1 AS I DONT KNOW MY INTEREST EXACTLY AND DONT WANT 80 TTA DEDUCTION

Answer:

It Depends Upon your int if it <10000 you can proceed,

if its > 10000 it leads to concelalment of income and penality will be levied .............