Tax on interest from saving a/c
This query is : Resolved
17 July 2012
Hi,
As per F.y.2012-13, interest on saving account upto Rs.10,000/-is exempt.
my query is if interest is Rs.15000/-, so i have to so only 5000/- in my income rest Rs.10000/- is exmpt or full amt i have to add in my income.
Plz suggest
thanks
As per F.y.2012-13, interest on saving account upto Rs.10,000/-is exempt.
my query is if interest is Rs.15000/-, so i have to so only 5000/- in my income rest Rs.10000/- is exmpt or full amt i have to add in my income.
Plz suggest
thanks
Guest
Guest
(Expert)
17 July 2012
The provision says for deduction upto am amount of Rs. 10000/- so in that case firstly add the interest in your computation and then claim a deduction upto Rs. 10000/- u/s 80TTA.
17 July 2012
in present case you will get deduction of Rs. 10000/- in 80TTA but only for individual and HUF.
you will add full 15000/- in income then will claim deduction of 10000/- So only 5000/- will be taxable
you will add full 15000/- in income then will claim deduction of 10000/- So only 5000/- will be taxable
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