Bank interest u/s194a
This query is : Resolved
prashant tawade
(Querist)
13 August 2015
how to calculate the tax on bank interest and which form to be use for that purpose
Deepti Asawa
(Expert)
13 August 2015
TDS liable @ 10% on Bank interest when bank interest amount more than Rs 10000.
If total income less than taxable limits (less than Rs. 250000 in case of Individual/HUF) than a Individual/HUF can give declaration to bank in form no. 15G/H than bank will not deduct TDS.
If total income less than taxable limits (less than Rs. 250000 in case of Individual/HUF) than a Individual/HUF can give declaration to bank in form no. 15G/H than bank will not deduct TDS.
prashant tawade
(Querist)
13 August 2015
thanks but which form to be use if main sourse of income is salary
prashant tawade
(Querist)
13 August 2015
thanks but which form to be use if main sourse of income is salary
Deepti Asawa
(Expert)
13 August 2015
You can file ITR-1 for Salary and Interest Income
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