Revised Query 20211018 on Income Tax

Venkat (NA) (76 Points)

18 October 2021  

Hi , 

It seems there are different replies  to the below query. I would request to the person responding with a reply to do it with full  responsibility & knowledge

. Thank you 

  1. " Is tax exempted  on post office savings bank account interest  ( Single holder) upto  ₹ 3500/- in a financial year ( still available to tax payers or the same has been abolished)."
  2. If still available then Post office sb account 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 ) exemption can be availed over & above this exemption of ₹ 3500.
  4. Any amount of post office sb account interest above ₹ 3500 would be subjected to tax and need to be added (total income from all sb Interest.
  5. Please correct me if I'm wrong.

Thanks