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

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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.

sanjeev kumar goel (Expert) 19 January 2016
Interest earned on saving account is exempt upto Rs.10,000/- U/S 80TT of Income Tax Act.

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Tax on interest recd from saving bank a/cs.

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