Yes Saving Bank Interst is Taxable and is also allowable for Expetion u/s 80C
Savings Account Interest
Page no : 2
chaitanya
(ewwqe)
(27 Points)
Replied 12 August 2011
| Originally posted by : jay prakash heerwal | ||
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Yes Saving Bank Interst is Taxable and is also allowable for Expetion u/s 80C |
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It is TAxable but many people dont show it in their return and Department is less concerned regarding evasion of interest u/s 80L
Ashok kumar
(CA Final)
(587 Points)
Replied 17 August 2011
yes fully taxable if you have saving account with bank, incase if you have savings account with post office, then Rs.3500/- is exempted from tax as per notification no:32 dated 03/06/2011
- ashok
Wasim
(NA)
(24 Points)
Replied 20 August 2011
I have shown bank saving a/c interest ( around 2500 INR) as interest in return of 2011-12. since I m a salaried person, and TDS is deducted from my salary.
How to pay remaining Incom tax around INR 200/- ( arised due to bank interest) now.
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