Interest on saving a/c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 SIR

I RECEIVED INTEREST FROM THE BANK RS 658/-FOR THE F.Y 2012-13, AND CHARGES DEBIT BY THE BANK IS RS 256/- IN THE PERIOD 2012-13.

PLEASE LET ME KNOW WHAT AMOUNT WILL BE ADD IN MY INCOME

RS 658/- OR

RS 658-256 =402

THANKS & RGDS

MUKESH KUMAR

Rupesh Jain

Rupesh Jain (Expert)
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29 July 2013 intt. to be taxable rs.658

Ganeshbabu K

Ganeshbabu K (Expert)
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29 July 2013 bank charges is not considered if you are not an business entity

if you are individual assesse you can claim deduction under section 80 tta for interest on saving bank up to 10000

so show interest in income from other sources and claim deduction under section 80 tta in return for the amount not exceeding interst received

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