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Inomce tax how much for me?

Tax queries 274 views 3 replies

Hello All

I am housewife, age less than 60 yrs.

For e.g, I  Earned INTEREST income Rs 2,78,600 for FY 2015-2016. This income consists of 40% INTEREST from BankFD, 60% INTEREST from not from FD

Please calrify

Shall I pay IT on the diff (Rs 2,70,000 - Rs 2,78,600) Rs78,600. If so pls let me know the IT rate?

If I am wrong in my approach please guide me with right inputs

 

Thank you

SS

 

Replies (3)
I hope you satisfied with the answer which i have given to your same query in another thread.

If interest income from FD or from similar type investment then procedure will be same. if interest from SB account then you will get Rs.10000 exemption in that, balance will be taxable.

ok thanks a lot Prashant

Mr.Prashant sir 10000 is not exemption but its deduction under section 80TTA.

For person below 60 Yrs.

U dont need to pay tax on income upto 2,70,000 qand on balance @ 10%

( I assume that u dont have any deduction under chapter VIA) 


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