Computation for a salaried employee

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2013 A SALARIED EMPLOYEE EARNS INTEREST FROM LENDING LOANS.
1.SO, HERE THIS FINANCING ACTIVITY WILL BE CONSIDERED AS HIS INCOME FROM PGBP OR OTHER SOURCES?
2.WHICH ITR HE HAS TO FILE?
3.IS HE REQUIRED TO DEDUCT TDS ON HIS INTEREST INCOME?
4.IF YES, ANY EXEMPTION LIMIT IS THERE?

@VaibhavJ

@VaibhavJ (Expert)
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28 December 2013 Hi

Int income can be included in income from other source. ITR 1 can be filed for the same.

If any TDS is deducted then same be claimed.

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

28 December 2013 THE LIMIT OF Rs.5000 FOR TDS IS FROM ALL PARTIES OR ANYONE IN THE PREVIOUS YEAR?

@VaibhavJ

@VaibhavJ (Expert)
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28 December 2013 it is for one party

thanks

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