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?
Menu
Senior citizen tax bracket
Replies (1)
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.
Recent Topics :
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
Related Topics :
CAclubindia
