Hello
Whether salaried person falls in 30% tax bracket and i have 2 concern please help with as per the correct provisons. Invesed in L&T and RECI in fy 10-11 and 11-12 respectively Rs. 20000/- as per 80ccf in infra bonds but the my concern with interest income which was received in march 2014 Rs.3430/- from both mentioned co.
1. Whether the interest income is exempt in this ay 2014-15 as per the sec 10(15)(iv)(h) or not?
2. If not then have to pay self assessment tax of Rs. 1060/-. Whether any interest u/s 234 A/B/C ? bcoz in this ay return is treated defective if int. not pay ?
Thanks.
CAclubindia
