Interest on sb a/c

This query is : Resolved 

Querist : Anonymous (Querist) 22 March 2012

As per Budget 12-13 SB account interest exempted up to Rs.10000/-. In case of Saving Plus account if we receive interest what will be the applicability. Please clarify.

CA Siddhartha Bhardwaj (Expert)
24 March 2012

Saving plus is a saving account only and accordingly interest will be eligible for exemption.

Querist : Anonymous (Querist) 26 March 2012

After exceeding the thresh hold limit the amount transferred to MOD, the interest will be calculated on MOD, Please give your justification in this case.

Querist : Anonymous (Querist) 26 March 2012

Please give reply on this issue

Querist : Anonymous (Querist) 29 March 2012

Please clarify

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