Bank interest

This query is : Resolved

gowrishankar (Querist)
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11 January 2014 our client who sells or aquired by state govt his land.since they are joint family. total of 2 crore deposited in bank and earn income from interest income above 20 lak(tds > 2lak).if he file income tax he is suppose to pay rax from his hand apart from that tds.but whole family depending on this income only expenses and insurance charges are more than 15 lak.. assessee can claim deduction??? assessee can claim all those expenses under admissible expensess???,

Rupesh Jain

Rupesh Jain (Expert)
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11 January 2014 pls check the land owner name and amount received in which name
if it is joint name then you can divide the amount in all members. and file return accordingly.

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