Post Office savings bank account interest

As per sec.10(15)(i), in addition to exemption under 80TTA, interest from post office savings account can be exempted upto Rs.3500 for individual. But in online ITR1 , where to enter this 3500, I don't know. Please help.

Replies (13)
Quick Summary
This discussion clarifies how to claim the tax exemption for interest earned on Post Office savings accounts, up to Rs. 3500, under Section 10(15)(i) in addition to the Section 80TTA exemption. Users sought guidance on entering this in the ITR-1 online form. The solution provided indicates that this exemption can be declared under the 'Exempt Income' section at the bottom of the Gross Income section in the ITR-1 online utility, by selecting 'Others' and specifying the nature of income and relevant section.

In itr 1 under chapter via

Scheule EI                                   Others                 

Originally posted by : sabyasachi mukherjee
In itr 1 under chapter via

Thank you sir

Originally posted by : Dhirajlal Rambhia
Scheule EI                                   Others                 

Thank you sir

You are welcome.                          

Originally posted by : sabyasachi mukherjee
In itr 1 under chapter via

Is the exemption available in ITR-1 (Online)? If yes, where. Thanks.

Originally posted by : Dhirajlal Rambhia
Scheule EI                                   Others                 

Schedule EI is in ITR-2, right? How can we mention this exemption in ITR-1 (Online)?

Thanks.

Part C.... Last column .....

Exempt Income: For reporting purpose .... Drop down provided in e-filing utility mentioning nature of exempt income, relevant clause and section ....

Originally posted by : Dhirajlal Rambhia
Part C.... Last column .....

Exempt Income: For reporting purpose .... Drop down provided in e-filing utility mentioning nature of exempt income, relevant clause and section ....

Thank you. So, as I had guessed, it is only available in offline utility for ITR-1 & not available in online form.

This sucks, Why would they overlook such a common deduction in ITR-1 (Online)!

We generally prefer offline, whereas the query is also based on offline utility.

I don't think the column would be missing in online utility.

Originally posted by : Dhirajlal Rambhia
We generally prefer offline, whereas the query is also based on offline utility.

I don't think the column would be missing in online utility.

Sir it is missing in online filing .

Really, shameful.

If you wish to declare the income under Exempt Income, prefer offline utility.

I found the Exempt Income section in ITR-1 (Online). Leaving it here for others.

It is at the very bottom of the Gross Income Section. You can select "Others" in the Exempt Income Section & then mention how Post Office SB Interest income can be exempted and under which section.

 

 

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Follow