Income from other sources

Taxblock | Last updated: 03 April 2024

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Income from 'Other Sources' covers earnings not falling under specific heads, such as interest from savings accounts, fixed deposits, and post office accounts. Taxpayers under 60 can claim up to £10,000 deduction on savings interest under Section 80TTA, while those over 60 can claim up to £50,000 under Section 80TTB, which also includes fixed deposit interest. Family pensions and lottery winnings are also taxed under this head, with specific deduction rules for family pensions and a flat 30% tax rate for winnings.

Table of Contents Interest Income Deduction Under Section 80TTA Fixed Deposits Deduction Under Section 80TTB Avoiding Tax Deducted At Source On Fixed Deposit Exempt Income Family Pension Income From Winning Of Lottery, Game Shows Or Puzzles etc Expenses That Are Allowed For

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1 Year PLAN

1999

(Excl. of GST ₹359)

BEST VALUE

2 Years PLAN

3499

(Excl. of GST ₹629)

3 Months PLAN

999

(Excl. of GST ₹179)

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Taxblock

Taxblock is One stop solution to ITR, GST, U.S Tax, NRI, EXPAT, TDS, Tax Planning and many more for Individual & Business

Taxblock India Private Limited, founded in 2019, is a fintech startup located in Pune, Maharashtra. We are enrolled as an E-Return Intermediary with Income Tax Department have established an In-House team of Technology Tax Experts to build a Financial Compliance Ecosystem for Individual Corporates. Our clients cho ... Read more

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