suppose from my ac balance above 1 lakh automatically transfer through sweep transfer and i earned interest over that
balance - 120000
sweep transfer as above 1 lakh = 20000
earned interest 1400
then in which section i have to file this amount
and under which section i can claim deduction in itr
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Sweep transfer itr filing
Replies (3)
Quick Summary
Sweep transfer are more or less like FDs. Int on FD is fully taxable
Then where i have to show the interest of fd in itr 1
It will be shown as Income from other sources. The deduction for FD Interest is presently available only to senior citizens u/s 80TTB
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