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(Querist)
24 July 2014 Sir,
Please solve my query
1] My Client Ramdas Received Int.on Saving A/c Rs.12000/- & FD Interest Rs.13300/-
Total Int.=25300/-
Income from Salary-2,40,000/-
Just Work,
240000-(25300)=214700 (Income)
(+)25300 Income from other sources
(Interest)
Total=2,40,000/-
(-)25300 U/S 80TTA
214700/-
right or Wrong

& issue confirmation how to interest show of saving a/c & FD + how to deduction show


please reply
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
24 July 2014 Show total interest of Rs 25300 under income from other sources. Deduction u/s 80TTA Rs 10000. Income from Salary Rs 240000/-.

Why are you deducting interest income from Income from Salary.?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 July 2014 dear friend,

please note that while both interest on saving a/c and FD will be reported in the Income from other sources as "interest" but deduction under 80TTA shall be claimed only for interest on savings A/c
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 July 2014 dear friend,

please note that while both interest on saving a/c and FD will be reported in the Income from other sources as "interest" but deduction under 80TTA shall be claimed only for interest on savings A/c
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Guest

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Guest (Expert)
25 July 2014 Under section 80tta only intended on savings up to 10000 is to be defucted
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Guest

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Guest (Expert)
25 July 2014 Under section 80tta only intended on savings up to 10000 is to be deducted
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Rupesh Jain

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Rupesh Jain (Expert)
22 August 2014 intt deduction u/s 80TTA only for saving bank a/c intt deduction not for others.
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