Tax on fd interested if more then 10k
This query is : Resolved
20 July 2014
In last finance year I received total 18200 as interest from FD and bank detected 1820 as tax .
My question will i get benefit of secion 80TTA where10,000 will be tax free ande 8200 will be taxible ?
or i need to pay tax on full amount RS 18200.
Thanks
vikas
My question will i get benefit of secion 80TTA where10,000 will be tax free ande 8200 will be taxible ?
or i need to pay tax on full amount RS 18200.
Thanks
vikas
20 July 2014
yes sec 80TTA is available to u so take 10,000 rs deduction.
20 July 2014
No. You can not claim deduction u/s 80TTA. Deduction is available only for saving bank interest. Deduction is not available for intetest on FD.
Nikhil Kaushik
(Expert)
21 July 2014
agreed with Sanjay ji. 80TTA is available only on the saving bank a/c interest
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