Is interest > 10k of an FD taxable?

Dear Member, you have not specified F.Y. for the income, let's assume that F.Y. 2010-2011. Bank interest will be considered under income from the other income, it is chargeble to the tax, but if your mom's income is not more than Rs.1.90 Lacs during the F.Y. 2010-11 then it will be considered as exempt income.

Dear Pragnesh,

It is for F.Y 2010-11 only. If we consider her pension income alone it is below 1.9 Lacs. But if I include the F.D interest along with pension income, it crosses 1.9 Lacs.

Thanks,

Harish J

if it crosses 1.90 lakh than return is to be filed

Pay self assessment tax, if any allowable deduction is not available.

Thanks for your input guys. I forgot to take allowable deductions into consideration. With allowable deductions under 80C the income comes below 1.90 Lacs. I am saved :)