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interest is taxable?
sir, my client is college professor received salary thru salary account. my question was interest received from salary account is exempt 80tta or taxable
Replies (6)
TDS to be seen
Salary account opened in any bank us basically a savings account. just because salary is rec'd in that account it is called as salary account .
so he's eligible to claim deduction on interest earned on savings account
so he's eligible to claim deduction on interest earned on savings account
Yes... The salary account also a SB account.
He can claim interest deduction on SB Interest.
He can claim interest deduction on SB Interest.
ok, but tds deducted on University paper valuation fees, such income is other sources ? or salary
does the college pays the fees to the client or University pays. if college pays it will be taxed as salary income since employer employee relations exists.if paid by University then taxable as ifos
you can show your interest income in other sources income .
the deduction 80tta claim after show income of other sources if interest income above rs.10000 then it is taxable income
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