Interest on mod
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2013
Interest accrued on Multi Option Deposit (MOD) linked with Saving Plus account is eligible for exemption u/s 80TTA. If not is there any TDS applicability? If so up to what extent it is exempted. Please give reply.
Interest accrued on Multi Option Deposit (MOD) linked with Saving Plus account is eligible for exemption u/s 80TTA. If not is there any TDS applicability? If so up to what extent it is exempted. Please give reply.
22 July 2013
only int on simple savings a/c in bank you can avail deduction under sec 80TTA,
TDS is applicable if Int exceeds Rs10,000 on savings a/c.
in your case you havent said whether your a/c is saving a/c or not.
TDS is applicable if Int exceeds Rs10,000 on savings a/c.
in your case you havent said whether your a/c is saving a/c or not.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2013
Sir,
Saving Plus account ie saving account with MOD facility
Saving Plus account ie saving account with MOD facility
22 July 2013
then int from savings a/c only is eligible for deduction under sec 80TTA.
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