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Query 20211018 on Income Tax

Venkat (NA) (76 Points)

18 October 2021  

Hi , 

It seems there are different versions to the below query. I would request to the person responding to reply with full responsibility . Thank you 

  1. " Is tax exempted  on post office savings bank account ( Single holder) upto  ₹ 3500/- in a financial year still available to tax payers or the same has been abolished."
  2. Hence the post office interest upto ₹ 3500/- needs to be shown under exempted income in ITR & the same shouldn't be added to other iinterest income from banks 
  3. Moreover 80 TTA (₹ 10000 ) can be availed over & above this exemption 0f ₹ 3500.
  4. Any amount of post office sb account interest above ₹ 3500 would be subjected to tax and need to be added to interest from SB account.
  5. Please correct me if I'm wrong.

Thanks


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