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Sweep bank a/c

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(Querist)
15 August 2014 what is sweep account ?? and whether saving a/c can be converted into sweep a/c...?? what are benefit practically??
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CA P K AGRAWAL

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CA P K AGRAWAL (Expert)
21 August 2014 You get more interest. But interest liable to TDS if more than 10k, which is not in the case of saving a/c. and you can not claim deduction of intt. u/s. 80 TTA

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