SAVING BANK INTEREST EXEMPT FROM TAX??????????
saving bank interest
MANISH (student ) (172 Points)
31 July 2010
16 Replies
Puneet Mantri
(CA Final student)
(534 Points)
Replied 31 July 2010
NO..it is taxable as income from other sources.
kishan
(e)
(61 Points)
Replied 31 July 2010
NO DEAR.............. INCOME FROM SAVING BANK INTEREST IS ALSO CHARGED FROM INCOME FROM OTHER SOURCES...................
Nomula Sreenivasarao
(DGM -Accounts)
(163 Points)
Replied 31 July 2010
Exemption Not allowed, Treated as income from other sources
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 31 July 2010
FULLY TAXABLE.
REGARDS,
MANOJ
shyam sundar
(Article Assisstant)
(183 Points)
Replied 31 July 2010
its income from other source. no particular exemption for interest on sb a/c.
Pkala
(CA Final (New Course))
(211 Points)
Replied 31 July 2010
It is fully taxable, under the head Income from other sources
CA Namrata ghosh
(CA)
(55 Points)
Replied 31 July 2010
fully taxable under the head income from Other Sources.
(Guest)
| Originally posted by : kishan | ||
 |
NO DEAR.............. INCOME FROM SAVING BANK INTEREST IS ALSO CHARGED FROM INCOME FROM OTHER SOURCES................... |
 |
Devendra
(Chartered Accountant)
(4775 Points)
Replied 31 July 2010
Saving Bank interest is taxable under the head income from other sources.
CA Finalist
(Article Assitant)
(289 Points)
Replied 31 July 2010
Yes, Fully chargeable under the head of INcome from OTHER SOURCES !!!
SUDHIR & PRADEEP JI
(CA FINAL+LLB + DISA)
(2299 Points)
Replied 31 July 2010
Treated as income from other sources
R.S.G.
(student C.A. final b.com m.com)
(41 Points)
Replied 01 August 2010
fully taxable & added in total income of the assessee . banks deduct TDS autometically if interest received during the year is more that Rs. 10000.
otherwise the assessee should show the amount of interest in his return .
RSG
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