Sch tds2 for bank saving interest

Hi i am filing my ITR-1 for AY 2018-19 i have earned total of Rs 18014 as bank saving interest i have shown above amount under Gross Total Income section against field "Income from other Sources (Ensure to fill 'Sch TDS2') also, i have entered Rs 10,000 under Deductions section against field '80TTA - Income from Interest on saving bank accounts' after filling above my outstanding tax liability comes out to be Rs 2480/-. i have paid this through e-pay option and have received the challan copy Next, i have entered the advanced tax challan details under section "Schedule IT details of advance tax and self assessment tax payments" after this there is no payable tax shown by the ITR-1 utility my questions is : Do i need to fill-up Sch-TDS2 section also for saving bank interest earned. i am asking because in the field "Income from other Sources (Ensure to fill 'Sch TDS2') - it is written to fill up Sch TDS2 But i am struggling to understand how to fill up this section for saving bank interest income can you please help. regards
Replies (6)

Please see your 26AS and see whether any TDS deducted u/s 194A.

 

TDS is never deducted on Savings Account interest even if the Saving account interest amount crosses Rs 10000 or any other amount.

The notice for Schedule OS for Sch TDS2 maybe for FD interest and TDS where FD interest was above Rs 10000.

Ignore notice for just simple savings account interest.

Thanks Shirish and Bhavsar for your prompt responses. very helpful.

If "income from other sources" must include 'Interest earned on Savings Bank A/c.' as a component?  People consulted so far about this aspect have been found to be rather 'hazy' in their replies.  Hence this request for clarification.  Will be grateful if there is an early reply.

Yes Income from other sources must include income from savings banks (apart from FDs)

ONLY SAVING BANKS INTEREST IS DEDUCTED FROM TOTAL INCOME UPTO 10K  u/s 80TTA

Sec 80TTA benefit of Rs 10,000 is only available on the amount shown in "Income from Other Sources".

Eg. If you enter 0 in Income from Other Sources and enter Rs 10,000 in Chapter VIA u/s 80TTA, you wont get that benefit.

but, if you enter Rs 10000 in Income from Other sources and enter Rs 10,000 in Chapter VIA then you get the benefit u/s 80TTA.

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