Tax on fd
This query is : Open
08 March 2016
dear Sir I work in a bank and I earn interest income more than 10000 as we don't deduct any tax for customers if they provide 15g/h but in my case my income exceeds 250000 and my confusion is that how much income should I consider 25000 plus interest income or 250000+ interest income - 10000(exempted)
KAVIRAJA ADDANGADI
(Expert)
08 March 2016
Second i.e.250000+ interest income, you can not give 15 G/H. You can claim rs.10000/- for SB Interest U/s 80TTA
CA. Ramiz M. Rather
(Expert)
09 March 2016
I think your income is 250000+interest income, but can you take benefit of section 80TTA only and only if interest is earned on other than time deposits.
09 March 2016
If the gross total income exceeds rs 250,000 including your FD intrest then u cannot avail 15G benefit.
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