Get Free Legal Advice from Top Expert Lawyers

Hi,
Interest on a savings account is taxed under the category of "Income from other sources." Furthermore, Section 80TTA allows a deduction of up to Rs 10,000 on such interest income, therefore interest received in excess of Rs 10,000 is taxable.
Thank you. Kindly rate the answer

Dear Sir,
It is purely financial based question and needs to be looked into chartered accountant. Normally, such loss will be carry forward to the next year and you will get necessary income tax relief.

Rate me Five Star*

if your mother's total income for year which includes the interest from the FD is less than 5 lakhs then it will not be taxable.
Bank will also ask form 15H for senior citizen.
Better invest in tax saving instruments.

you can check master data of company as well as public documents such as balance sheet can be obtained from MCA website on payment of requisite fees.

Hi,
Tax registration number is issued to businesses on the basis of types of business. There are several types of ID numbers for taxation like Tax ID number, Employer ID number, PTIN.

If you find this answer helpful please rate my answer. Thank you

Hi,
In both cases you are liable to pay taxes. For a detailed breakup please contact a chartered accountant.

Dear sir,
Please consult Chartered Accountant.

Hi,
Yes, you will be considered as a resident but not ordinarily resident.
Thank You
If you found this helpful, do rate us.

Hi,
yes, the following transaction is exempted from the payment of Income Tax as it is considered a Gift given to your brother. Thank You
If you found this helpful, do rate us.

Dear tax payer,

1.the surrender of the policy will be considered as income under section of 10(10D) . So the tds will be levied .
TDS cannot be considered as the tax paid . we can file the income tax return and claim refund.
2. we can declare the loss in the income from other sources while filing the return and can claim refund of the TDS.

#tax#crime#civil#