Tax on interest recd from saving bank a/cs.

modi kamal (Querist) 09 March 2013 This query is : Resolved
Dear Experts,
For the year ending 31/03/2013,i.e A.Y 2013-14,is there income tax rebate on interest earned on saving bank a/cs upto Rs.10,000 as advertised by YES bank in news papers?

If yes,please tell me U/s No.

Thanks,

Kamal Kumar

Follow Query

Report Abuse

VARUN MAHAJAN (Expert) 09 March 2013
Yes u/s 80TT

Raj Kumar Makkad (Expert) 13 March 2013
This is duly available during the AY 2012-13

R.V.RAO (Expert) 21 February 2014
yes.
only int.on Savings bank exempted upto Rs10000/in a financial year.

the IT dept. wants this int. to be shown as income from other sources and claim exemption in your IT returns.