Hello All
I am housewife, age less than 60 yrs.
For e.g, I Earned INTEREST income Rs 2,78,600 for FY 2015-2016. This income consists of 40% INTEREST from BankFD, 60% INTEREST from not from FD
Please calrify
Shall I pay IT on the diff (Rs 2,70,000 - Rs 2,78,600) Rs78,600. If so pls let me know the IT rate?
If I am wrong in my approach please guide me with right inputs
Thank you
SS
ok thanks a lot Prashant
Mr.Prashant sir 10000 is not exemption but its deduction under section 80TTA.
For person below 60 Yrs.
U dont need to pay tax on income upto 2,70,000 qand on balance @ 10%
( I assume that u dont have any deduction under chapter VIA)
CAclubindia
