banner_ad

Bank interest

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 July 2007 Interest on savings bank account and RD Account - whether taxable. Is there any exemption limit.
Profile Image

SUBRAMANIA SARMA G

Profile Image

SUBRAMANIA SARMA G (Expert)
12 July 2007 Interet on Savings accont or Recurring deposit is an interest which is chargeable to tax under income from other sources. with the removal of deduction under section 80L by our glorious and illustrious Finance Minister, all interest whether received on Savings Bank or recurring deposit is taxable and no deduction is available.
Profile Image

Sanjeev Kumar Varshney

Profile Image

Sanjeev Kumar Varshney (Expert)
12 July 2007 Interest paid by Bank and Post Office is subject to Tax and interest income above Rs 10000/- ( w.e.f 1st June 07 ) shall be subject to TDS.

However subject to certain condition exemption can be filed in Form 15H or 15G as the case mat be.
Profile Image

Shashi Mohan Jha

Profile Image

Shashi Mohan Jha (Expert)
12 July 2007 Reply of Sanjeev resolves the issue
Profile Image

CA BHARATH KUMAR

Profile Image

CA BHARATH KUMAR (Expert)
18 July 2012 as now taxable above 10000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details