For the year 1 April 2013 - 31 March 2014, the balance in my salary account was more than 8 lacs at all times. My salary falls under the slab of Rs 2,00,000 - 5,00,000. As per law, I'm liable to pay 10% tax exceeding Rs 2,00,000. My employer issued me a TDS certificate indicating the amount deducted as taxes. But, my bank never deducted any TDS on the interest income, which is, by the way, more than Rs 10,000 and never issued a TDS certificate to me. Now, while filing returns, should I report the interest income as the income comes from salary/savings account and not fixed deposits/recurring deposits. Also, should I ask for a TDS certificate from the bank or a simple Annual Bank Interest Certificate will do.
One more thing, since my total income (including interest income from savings account) is less than Rs 5,00,000, can I opt for offline/paper filing and not efiling or it is mandatory to go for efiling as my total income is less than Rs 5,00,000 but my interest income from savings account exceeds Rs 10,000.
Please help me clear my doubts.
CAclubindia
