Income from other source

Page no : 2

Malvika Singh (Student) (70 Points)
Replied 23 November 2018

You are most welcome Malvika. ☺️

Nitesh bind (Student CA Final ) (12692 Points)
Replied 23 November 2018

Ha ha ha... You are amazing @ Malvika. Saying thanks and most welcome at the same time. Praising yourself, Good Strategy. :-)

1 Like

Malvika Singh (Student) (70 Points)
Replied 23 November 2018

He He He... There is nothing like that.... What I mean to say was " Your Suggestions are most welcome. (From) Malvika :-) " ....

Now Okay? :-D

Jaisika Kukreja (216 Points)
Replied 23 November 2018

R u also doing CS ?? Malvika

rama krishnan (12234 Points)
Replied 23 November 2018

the interest from any kind of term deposit is taxable. only the principal amount can be claimed as deduction under 80c subject to conditions

Nitesh bind (Student CA Final ) (12692 Points)
Replied 23 November 2018

Ohhh.. My bad @ Malvika.

rama krishnan (12234 Points)
Replied 23 November 2018

in respect of deductions of principal amount, (total principal amount/number of years) could be claimed as deduction

Malvika Singh (Student) (70 Points)
Replied 23 November 2018

No Jaisika. I am in CA-ipcc

Shambhuling Patil (Article) (29 Points)
Replied 26 November 2018

Sir/Mam,

As per Sec 10(17) of Income Tax Act, any allowances recd for holding the position as MP/MLA is exempt. Int is not covered in this.

Hence it is anyhow taxable s.t. Sec 80TTB

Thank You

CA.Shambhuling Patil

M: 7411517975

VARUN MAHAJAN ADVOCATE (Proprietor) (339 Points)
Replied 26 November 2018

1 point to be added, Now post office has changed to postal bank

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