Balaji Subbu (SAP FICO) (220 Points)
08 June 2017Hello Professinal Friends
I have following 2 incomes for FY 2016-2017
1) of Rs3000 incoming INTEREST from Saving Bank ac
2) FD interest income of Rs15000
3) Age52yrs NO job / No Business
under What heading and section I should SHOW above income while online filing?
Please clarify
Adv Thanks
reg
Balaji Subbu
Sreekanth
(79 Points)
Replied 08 June 2017
Dear Balaji,
As per data provided by you, you are falling below the taxable limit. However I assume that you are filing the returns and replying. The Savings bank interest and FD interest both are to be shown under Other Income in Form ITR-1 (Sahaj). But you can claim the amount of SB interest of Rs 3000 as deduction under Sec 80TTA . So Gross Total Income should be 18000, Chapter VI A - 3000 Total Income 15000 Tax - 0 , Refund (if any, should be the TDS deducted on FD)
Hope this helps you,
CAclubindia
