Fd interest in itr 3

Thank you so much for replying.

Will it add it the taxable income or can I claim any deduction?

Thank you very much

First you should add it to the taxable income under the head income from other sources and later in calculaton of tax on income you have to deduct that interest income

MOLLY SIR 

AS YOU SAYS THAT YOU ARE FILE ITR IN  ITR3 , MEANS YOU HAVE PARTNERSHIP FIRM.

SO YOU SHOULD ADD YOU INTEREST IN YOU INCOME HEAD ( INOCME FROM OTHERS SOURCES)

YOU CAN NOT DEDUCTEE (U/S 80TTA) YOU INTEREST INCOME FROM TAXABLE INCOME ,

BECAUSE 80TTA DEDUCTION IS AVAIBLE FOR INDIVIDUAL ASSESSEE  ONLY .NOT FOR PARTNERSHIP FIRM.

GOOD LUCK 

Originally posted by : RAMESH
	First you should add it to the taxable income under the head income from other sources and later in calculaton of tax on income you have to deduct that interest income

Hi Ramesh, where do I have to deduct the interest income in the ITR?

@ Tanush, I am filing my individual income not the income of the firm. Thank you.

Sorry to rush but can anyone tell me where to deduct the interest income from?

DEAR SIR 

AS YOU WRITE IN YOUR FIRST  STATE (Fd interest in itr 3) , I ASUME VTHAT ,  

FIRST OF ALL PLEASE CLEAR THAT IN WHITCH TYPE (CATEGERY ) OF YOUR PAN CARD 

(INDIVIDUAL, HUF, FIRM, COMPANY, PARTNER AND ANY OTHER)  AND IN WHICH FORM OF ITR YOU USES FOR RETURN FILE

Hi Tanush, yes I am a partner of a firm but at the moment I am asking for filing my individual return not of the firm

OK

SO ,  YOU SHOULD ADD YOU INTEREST IN YOU INCOME HEAD ( INOCME FROM OTHERS SOURCES)

YOU CAN NOT DEDUCTEE (U/S 80TTA) YOU INTEREST INCOME FROM TAXABLE INCOME BECAUSE THIS INTEREST YOU HAVE RECIEVED FROM FD A/C.

OK thank you very much. Had just got a bit confused with the reply from Ramesh. All clear now. Thank you.

80TTA only for saving bank interest not for FD Interest.

FD Interest should be shown in Income from other source.

No deduction allowed.

A partner in a firm file his income in ITR 3.