Saving account
This query is : Resolved
16 September 2014
if someone has 81 lacs in his account and has fd of 25 lacs nd getting notice to pay tax...so what he has to do?
16 September 2014
then ask the depositee to deduct tds as applicable.
16 September 2014
He should file his income tax returns and pay tax accordingly. Interest income is exempted u/s 80TTA upto a maximum of Rs 10000. So saving bank interest in excess of Rs 10000 will be taxable. TDS must have been deducted by bank on FD interest. So you need to check that too.
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