Bank interest eligibility
This query is : Resolved
08 July 2014
Do non personal customers are eligible to get savings bank account interest?
08 July 2014
Individuals and HUFs who earn
interest on their deposit in a savings
account can claim tax exemption on
such interest. Savings account can be
with a bank, post office or co-
operative society doing banking
business. This deduction is not valid
for time deposits like FD and RD.
If the savings account is held on
behalf of a firm, association of persons
or body of individuals this deduction is
not applicable.
interest on their deposit in a savings
account can claim tax exemption on
such interest. Savings account can be
with a bank, post office or co-
operative society doing banking
business. This deduction is not valid
for time deposits like FD and RD.
If the savings account is held on
behalf of a firm, association of persons
or body of individuals this deduction is
not applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
