May I know much TDS is deducted for Savings account interest?
Hey Prateek! Welcome to the Niyo Community!
Kindly note:
*The interest that you receive from a Savings account is taxable under the head “Income from other sources”.
*Further, Section 80TTA provides for a deduction up to â‚ą10,000/- on such interest income and therefore, interest earned beyond â‚ą10,000/- is only taxable.
Hope this helps! LK
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