SAV­INGS AC­COUNT

Deccan Chronicle - - Money -

Your sav­ings bank ac­count pro­vides you in­ter­est pe­ri­od­i­cally. This in­come needs to be de­clared un­der In­come From Other Sources. Un­der Sec­tion 80TTA of the In­come Tax Act, in­ter­est up to `10,000 in a fi­nan­cial year from all your sav­ings ac­counts with banks or post of­fices is ex­empt from tax­a­tion. If you have earned more than `10,000, you will get an ex­emp­tion only on `10,000.

Tax Ef­fi­ciency & Rat­ing: 3/5 Re­turns

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