banner_ad

Interest on bank recuring deposit is taxable or not

This query is : Resolved 
Profile Image

Profile Image

(Querist)
15 April 2014 Dear sir
i have received Rs 20000. 00 on a/c interest on bank recuring deposit during the f.y 13-14 pls advise that total interest will be taxable or not ,

Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
15 April 2014 it is taxable under income from other sources.

you can not take deduction u/s 80TTA
Profile Image

Dintakurthi Tirumala

Profile Image

Dintakurthi Tirumala (Expert)
15 April 2014 Yes, such interest amount is chargeable to tax under the head income from Other sources. and you have a chance to offer such income either on accrual basis or cash(receipt) basis choice is yours which you feels better benefit to you.

OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details