How to disclose Interest Income in ITR & Sec 80TTA Deduction

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  1. Munshi prasad Sah

    Munshi prasad Sah New Member

    Sir, I m salaried person, salary is credited to my savings account. However I got total interest Rates 1000/- during FY 13-14. Should I deduct this amount under 80TTA and add this amount to income salary. Because this income was not earned by others source, it is the only salary which I got from employer. Brief in details. What is the scope for FD/Rd.
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    The Interest earned on your savings account would be added to Income other head Other Sources.

    This Income is not to be disclosed under Income under head Salaries.

    First, this income would be disclosed under head Income from Other Sources and then deduction can be claimed under section 80TTA
    Dinesh Kumar likes this.
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