Interest from saving a/c
This query is : Resolved
jitu parmar
(Querist)
25 March 2015
if any one receive interest from saving a/c which is more than 10,000 suppose interest received is rs15,000 than how much amt can claim u/s 80TTA.wheather TDS is applicable
GULRAJ AILANI
(Expert)
25 March 2015
Rs. 10000 can be claimed by individual or HuF
25 March 2015
TDS is not applicable on Savings Bank Interest. Maximum of Rs 10000/- is exempt u/s 80TTA. Amount in excess of Rs 10000/- will be taxable under the head Income from Other Sources.
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