Interest on saving account is exempted or not
This query is : Resolved
19 September 2014
Respected Sir
Whether interest on saving account is exempted like FY 2013-14 or not?
Whether interest on saving account is exempted like FY 2013-14 or not?
19 September 2014
Yes(deduction upto INR 10,000)...Since, the same has been allowed as deduction vide section 80TTA, rather than a specific exemption notification
19 September 2014
Saving Bank interest is exempted u/s 80TTA subject to a maximum amount of Rs 10000/-.
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