Yes, what Mr. Rakesh Gupta & Vidya say, is correct. Interest earned by Individuals from Savings Account to the extent of Rs. 10, 000.00 is exempt from Income Tax w.e.f. this Financial Year 2012-13 (AY 2013-14)
Savings bank interest and itr
Page no : 2
CA. Vikash Dwivedi
(Financial Planning & Analysis)
(3167 Points)
Replied 23 July 2012
yes, under head IFOS.
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