tag:blogger.com,1999:blog-1072534379447599771.post7190307216050176296..comments2024-03-16T19:11:05.756+08:00Comments on Anand's Blog: Save Additional Tax Using the New Section 80TTA of the Indian Tax Laws - Did you know?Anand Vijayakumarhttp://www.blogger.com/profile/04069290912727901147noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1072534379447599771.post-46755216394184202922016-06-26T10:35:39.964+08:002016-06-26T10:35:39.964+08:00No, such deposits get classified as a FD and hence...No, such deposits get classified as a FD and hence not applicableAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-24062943550011278732016-06-25T15:03:44.314+08:002016-06-25T15:03:44.314+08:00Dear Sir,
I have a doubt regarding the last part ...Dear Sir,<br /><br />I have a doubt regarding the last part of Sec. 80TTA. In the official text of the section, there is a last para called "explanation" which says that 'for the purposes of this section, time deposits would mean deposits repayable on expiry of fixed periods'. The sweeping a/c FDs are not repayable on the expiry of fixed periods but rather whenever the a/c Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-26064643672678098052015-02-05T18:53:31.191+08:002015-02-05T18:53:31.191+08:00Dear Mr Anand Vijaykumar,
Yours is a great blog, o...Dear Mr Anand Vijaykumar,<br />Yours is a great blog, one that I have learned immensely from. Do keep educating us.<br />May I suggest you to incorporate some/any of the online tools that permit easy printing of your articles in pdf form so that one could read it at leasure when off-line, and also keep it as a referrence.<br /><br />Thanks<br />Regards<br />an avid reader of your blogAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-51903605819625455392013-09-17T10:09:43.866+08:002013-09-17T10:09:43.866+08:00Yogesh, yes banks deduct TDS @ 10% and give you th...Yogesh, yes banks deduct TDS @ 10% and give you the statement that you can include along with form 16 for tax calculation purposes. <br /><br />If the Interest is received from your Savings Account and the amount is less than Rs. 10,000 in one financial year, you need not keep track of it. That is the benefit of this Section 80TTA. If the interest is received from a Fixed Deposit or a Recurring Anand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-73971002926888043092013-09-17T00:44:52.632+08:002013-09-17T00:44:52.632+08:00Useful info...
My Bank usually deducts TDS and gi...Useful info...<br /><br />My Bank usually deducts TDS and gives me a form-16 type of thing at end of year which tells me total interest paid and total tax deducted.<br /><br />I assume bank deducts 10% of the total interest.. I am a bit confused if i need to take care of each rupee that bank is giving me as interest...Yogihttps://www.blogger.com/profile/15382350910254695035noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-47527220056010926132013-09-13T14:56:56.397+08:002013-09-13T14:56:56.397+08:00Kaushik - I dont think so. By sweep in usually mon...Kaushik - I dont think so. By sweep in usually money gets parked as a fixed deposit, so technically the interest is earned through a FD. <br /><br />For this section 80TTA, the money has to be earned through cash that was kept static in a savings bank account. <br /><br />Does that answer your question?<br /><br />AnandAnand Vijayakumarhttps://www.blogger.com/profile/04069290912727901147noreply@blogger.comtag:blogger.com,1999:blog-1072534379447599771.post-30030358187294119472013-09-13T14:52:48.166+08:002013-09-13T14:52:48.166+08:00Hi Anand,
Would this rule be applicable to the int...Hi Anand,<br />Would this rule be applicable to the interest earned from sweep-in accounts also?Kaushiknoreply@blogger.com