Interest treatment on saving account

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2013 hi,
i comes in 30% income slab
I recieved interest of rs. 8500 on my bank a/c.
Is it taxable or i can get benifit of under 80 TTA.
Or should i consider it as income from other source and pay 30% tax on it.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

21 July 2013 Interest from saving account is taxable under Income from other sources. but you also can claim the deduction u/s.80TTA up to Rs.10000

Message likes : 1 times

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

21 July 2013 As your income from saving bank account is less than Rs.10,000 there would be no effect on your final tax liablity as we can claim the same as a deduction under section 80TTA

Thanks & regards
Ganesh babu k

Message likes : 1 times

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anju Susan

Girdhar Harlalka

zafar chandwale

atul kumar soni

T E SOUNDARARAJAN

Subscribe Now

Interest treatment on saving account

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Article Assistant

Manager- Finance and Compliance

Accountant

GST CONSULTANCY

CA Final