Proprietor
This query is : Resolved
25 September 2014
Does Savings A/c of Sole trader should be accounted?
25 September 2014
If transaction of business are happened from this account then Yes. If not then it is upto the proprietor whether to shown it or not.
Interest received on savings account is exempted upto Rs.10,000/- u/s.80TTA, in excess of this it is taxable.
Interest received on savings account is exempted upto Rs.10,000/- u/s.80TTA, in excess of this it is taxable.
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