FY 2016-17
If an individual have under 4 lakh salary per year.
His form 26AS show that bank cut tds 2000 on 20000.
What is the interest from bank
20000 or 30000 (20000+10000)
because 10000 is tax free interest from bank.
interest 20000 add in the column income from other source then 80TTA 10000 applicable
or
interest 30000 add in the column income from other source then 80TTA 10000 applicable
80TTA is applicable on savings interest. Bank does not deduct TDs on savings interest. So the amount coming in 26AS should be FD interest. Theactual savings interest should be added from the pass book/ bank statement and should not be assumed to be 10000.
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