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Tips on saving tax on the interest you earn on your savings bank account

Interest earned on balances in savings accounts held with banks or post offices is taxable under "Income from other sources". Did you know that you can actually save this tax to an extent?

Sukanya Roy Bindisha Sarang New Delhi

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1 min read Last Updated : Feb 26 2021 | 4:56 PM IST

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Interest earned on balances in savings accounts held with banks or post offices is taxable under “Income from other sources”. Did you know that you can actually save this tax to an extent?

What is Section 80 TTA? Which accounts are included? Which are excluded? What's the maximum deduction? Are you obligated to disclose Interest earned on balance maintained in Savings Bank account? What will be the consequences of not reporting the interest income earned on balance maintained in savings bank account?

In this podcast, we answered all of these and more

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Topics :Income tax Tax Saving tax saving schemes tax Saving account

First Published: Feb 26 2021 | 4:06 PM IST

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