Interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 October 2018
Please inform me the following ---
Interest on Savings A/C ( Bank & Post office ) to be considered for calculation of Gross Total Income.
Defination of Rebate under section 87A
Interest on Savings A/C ( Bank & Post office ) to be considered for calculation of Gross Total Income.
Defination of Rebate under section 87A
KAVIRAJA ADDANGADI
(Expert)
02 October 2018
SB Interest income to be added income from other sources SB interest can be claimed deduction under 80 TTA Upto 10000/- for Senior citizen can claim FD and SB Interest upto Rs.50000/-For Ay 2019-20 under 80TTB
Individuals Net taxable income af chapter VIA deductions if it falls below Rs 3,50,000/per annum, is entitled to claim rebate under section 87A. Rebate under section 87A is allowed up to a maximum of Rs 2,500. It means the amount of rebate will be lower of either Rs 2,500 or 100% of the income-tax liability.
Individuals Net taxable income af chapter VIA deductions if it falls below Rs 3,50,000/per annum, is entitled to claim rebate under section 87A. Rebate under section 87A is allowed up to a maximum of Rs 2,500. It means the amount of rebate will be lower of either Rs 2,500 or 100% of the income-tax liability.
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