Taxable

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manohar nirne (Querist)
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13 July 2013 x person recd. Rs. 4000 from post office saving bank account for the a.y.13-14. How much portion taxable or not.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 July 2013 Exempted u/s 80TTA. Exempt upto Rs 10000/-.

Deduction from gross total income of an individual or HUF, upto a maximum of Rs. 10,000/-, in respect of interest on deposits in savings account ( not time deposits ) with a bank, co-operative society or post office, is allowable w.e.f. 1st April 2012 (Assessment Year 2013-14).

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