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Post office Saving account

Sandeep Jain (Pivate) (1407 Points)

02 February 2022

Dear Sir,

in ITR post office Saving account need to shown. please suggest

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14 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 02 February 2022

Yes.You need to show interest also

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prasad Nilugal ( GST Practitioner & Accounts ) (14546 Points)
Replied 02 February 2022

As per section 80TTA of the Income tax act 1961 , Interest income up to 10000/- from saving account in post office , Bank , is not taxable .

prasad Nilugal ( GST Practitioner & Accounts ) (14546 Points)
Replied 02 February 2022

Section 80TTA applicable only to individual .

sabyasachi mukherjee (27117 Points)
Replied 02 February 2022

There are two sections one is Sec 80TTA AND ANOTHER IS SEC 80TTB

Sandeep Jain (Pivate) (1407 Points)
Replied 02 February 2022

Sir, I am asking about account number need to mention or not

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Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 03 February 2022

Yes.You need to show account number also.All bank account numbers should be shown in ITR

sabyasachi mukherjee (27117 Points)
Replied 03 February 2022

Not necessarily. optional
Below you hv to tick on the account where refund will be credited.

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Aarti Maurya (Student) (3263 Points)
Replied 03 February 2022

yes , interest from post office saving account will be shown under income from other sources and deduction under 80TTA can be claimed.

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 03 February 2022

All bank accounts have to be disclosed in e filing including post office savings account details

sabyasachi mukherjee (27117 Points)
Replied 03 February 2022

Obviously disclosure is essential if the interest is material.

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Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 03 February 2022

@ Sandeep Jain

Did you get the answer for your question ?

Sandeep Jain (Pivate) (1407 Points)
Replied 03 February 2022

Sir,
I got the answer but unavailable to update post office Saving account detail to it portal because portal show only bank detail with IFSC code

sabyasachi mukherjee (27117 Points)
Replied 04 February 2022

The budget speaks netbanking will be done.
clearing is not happening . If you present post office cheque to any other financial institution that will not be cleared.

Nidhi (Chief Accountant) (3150 Points)
Replied 04 February 2022

It's ok, if u r not mentioned your account number,
but if u have any interest income from same than include than in income from other sources and claim deduction u/s 80TTA or 80TTB, as the case may be