Itr-i e-filling

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2012 My bank interest is 9713.5 and eligible for ITR-1 E-filling. Tax on on interest is balance to pay and like to pay thru chequ/chalan in bank. Where to show in ITR-I Efilling after deposite? Should I required to pay tax on Bank Interest below Rs.10,000/-?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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29 June 2012 1. Tax liability is computed on the total income.

2. For this purpose, incomes from all sources will be aggregated and tax on such aggregate income shall be computed.

3. If your total income exceeds the exemption limit, only then tax shall be payable.

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