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Savings bank interest while filing under new tax regime

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trnghosh

sr asst

210 Points Posted on 20 June 2024

I have another small query and if any one reply to this one will be great for me.

In the Interest from Deposit (Bank/Post Office/Cooperative Society) does it include savings interest or I have to add my savings interest with this figure. What I mean to say If I have 1000 as interest on deposit and SB intt of Rs 25.00 whether I have to sum them up and put the new amount ie, Rs 1000+ Rs 25.00 = Rs 1025 or savings bank interest is exempted in the NEW TAX REGIME. Shall be glad if anyone reply to this one.

Many thanks for all the replies I got.

Replies (2)

Quick Summary

This discussion clarifies whether savings bank interest needs to be added to other deposit interest when filing under the new tax regime. The consensus is that savings bank interest should be declared separately. Section 80TTA may offer deductions for savings interest up to a certain limit, but this needs to be confirmed based on individual circumstances.