Tax on interest from saving a/c

This query is : Resolved

Arvind (Querist)
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17 July 2012 Hi,

As per F.y.2012-13, interest on saving account upto Rs.10,000/-is exempt.

my query is if interest is Rs.15000/-, so i have to so only 5000/- in my income rest Rs.10000/- is exmpt or full amt i have to add in my income.

Plz suggest
thanks

Guest

Guest (Expert)

17 July 2012 The provision says for deduction upto am amount of Rs. 10000/- so in that case firstly add the interest in your computation and then claim a deduction upto Rs. 10000/- u/s 80TTA.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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17 July 2012 in present case you will get deduction of Rs. 10000/- in 80TTA but only for individual and HUF.
you will add full 15000/- in income then will claim deduction of 10000/- So only 5000/- will be taxable

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