how much interest senior citizen couple can receive yearly from there fix deposites ,who dont have any other income source.
if they are joint account holder does that make any diffrence?
how much interest senior citizen couple can receive yearly from there fix deposites ,who dont have any other income source.
if they are joint account holder does that make any diffrence?
the exemption limit for senior citizens is 2.5 lacs. SO if they have surplus income of 1 lacs to invest then the interest income upto 3.5 lacs can be earned so that from 3.5 lacs 1lac would be deducted and balance would fall on the exemption limit.
In case of joint account, the interest income would be taxable in the hands of the first holder.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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