if i filling my ITR 1 and dont want to give my bank interest details then can i file my ITR 1 AS I DONT KNOW MY INTEREST EXACTLY AND DONT WANT 80 TTA DEDUCTION
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Income tax return
Replies (11)
You have to provide Bank detail in your ITR.. if you do not have Interest Income detail than also you can file your ITR as Interest upto Rs.10,000/- is allowable u/s 80TTA.
Bank interest amount can be traced from your bank passbook (get it up to date).
Get yr statement/passbook n get interest from there.
if I don't want to claim any 80TTA deduction than
Is your Savings bank interest above 10K??
no my interest is very low
If your interest less than 10000
then its okkk
If interest amount is low (below rs 10,000) then not so required to show it, you may ignore it.
U need to show the bank account interest and claim deduction. If u don't want to show ur bank account interest then this would lead to concelment of income and penalty may be initiated. Even though the deduction can be claimed under s.80TTA
A LLP formed on 02/01/2016. and it has loss of Rs. 13,00,000/- in financial year 2015-16.
Is it liable for Tax Audit ???
Q. if i filling my ITR 1 and dont want to give my bank interest details then can i file my ITR 1 AS I DONT KNOW MY INTEREST EXACTLY AND DONT WANT 80 TTA DEDUCTION
Answer:
It Depends Upon your int if it <10000 you can proceed,
if its > 10000 it leads to concelalment of income and penality will be levied .............
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