Tax on fd interested if more then 10k
This query is : Resolved
20 July 2014
In last finance year I received total 18200 as interest from FD and bank detected 1820 as tax .
My question will i get benefit of secion 80TTA where10,000 will be tax free ande 8200 will be taxible ?
or i need to pay tax on full amount RS 18200.
Thanks
vikas
My question will i get benefit of secion 80TTA where10,000 will be tax free ande 8200 will be taxible ?
or i need to pay tax on full amount RS 18200.
Thanks
vikas
20 July 2014
yes sec 80TTA is available to u so take 10,000 rs deduction.
20 July 2014
No. You can not claim deduction u/s 80TTA. Deduction is available only for saving bank interest. Deduction is not available for intetest on FD.
Nikhil Kaushik
(Expert)
21 July 2014
agreed with Sanjay ji. 80TTA is available only on the saving bank a/c interest
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
