This discussion clarifies how to declare interest earned from Post Office savings accounts in your Income Tax Return (ITR) 2. You need to declare the interest under Section 56 and then claim a deduction under Section 80TTA(1)(c) to make it exempt from tax. This ensures accurate reporting of your savings account income.
19 July 2023
Please guide as to how & where to show post office savings account of less than Rs. 3000 in ITR2? Is it required to be included first under interest on saving account first & then shown as exempt?