Interest on savings account at low

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Student
102 Points Posted on 30 September 2021

Is it advisable to show lower interest income of savings bank account in itr?

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On 30 September 2021 at 19:29 Report
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It is crucial to declare the full interest earned on your savings account in your Income Tax Return (ITR). The amount declared should match or exceed what's shown in your Form 26AS. If TDS has been deducted, it will appear in 26AS; otherwise, you can declare the actual interest credited under 'other sources' and claim eligible deductions under Section 80TTA or 80TTB.

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Service
95 Points Posted on 30 September 2021

No, it should be same or higher amount what is shown in 26 AS.

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On 30 September 2021 at 20:25
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Service
95 Points Posted on 30 September 2021

No, it should be same or higher amount what is shown in 26 AS.

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On 30 September 2021 at 20:25
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Student
102 Points Posted on 30 September 2021

26AS doesn't reflect the amount

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On 30 September 2021 at 21:34
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Service
95 Points Posted on 30 September 2021

If TDS is deducted by bank, it will reflect in 26AS with tax. If no tax is deducted then it will not reflect in it. In that case you may show correct interest credited in your bank account in other sourse.and  claim  exemption under 80TTA or 80TTB for maximum upto 10K or 50K, as the case may be. 

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On 30 September 2021 at 23:29

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