Saving account interest taxable
This query is : Resolved
PANKAJ SHARMA
(Querist)
30 July 2014
I have earned interest in a saving bank account which is exceeding Rs.10000/-during last FY 13-14. The bank has not deducted any TDS on it. Is this whole amount is taxable ?
30 July 2014
yes but if ur total income means this int + any other taxable income is below slab then not taxable else this int is taxable under income from other sources.
but u can get dedcution u/s 80TTA upto 10,000 on int from savings bank account
but u can get dedcution u/s 80TTA upto 10,000 on int from savings bank account
Rupesh Jain
(Expert)
02 August 2014
on saving bank a/c intt bank not deduct the tds bank deduct the tax only on FDR intt.
you can take Rs. 10000/- deduction u/s 80TTA of saving bank intt. and bal will be include in your taxable income.
you can take Rs. 10000/- deduction u/s 80TTA of saving bank intt. and bal will be include in your taxable income.
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