INTEREST ON SAVINGS BANK/OTHER

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..... INTEREST ON SAVINGS BANK/OTHER
Query (Issue) Started By: - janakiram g Dated:- 9-2-2015 Last Reply Date:- 10-2-2015 Income Tax
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Income Tax
Sir/Madam Kindly clarify me the foll .....

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..... owing 1. Exemption limit for Interest on Savings bank a/c/ Fixed Deposit 2. I am working for Insurance Co. We need to settle Motor Third Party Claims which includes Interest Component also as a part .....

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..... of total Claim settlement. If interest component exceeds ₹ 50,000/-, we deduct tax on interest amount. It is mandatory that cheques should be issued in favour Principal Judge. But claimant/s ma .....

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..... y be different. E-filing of TDS return will be done in the name of Principal Judge and form 16A generated in the name of Principal Judge When court releases payment to Claimant, he may be interested i .....

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..... n claiming TDS amount deducted on interest. In such a case, whether it is in order to issue Form 16A prepared in the name of Claimant manually. Reply By Deepak Aggarwal: The Reply: Dear Sir, 1. Und .....

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..... er section 80TTA, exemption upto ₹ 10,000 available on interest on savings bank accounts deposits. 2. As per my understanding, after introduction of Traces system, no manual TDS credit is allow .....

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..... ed unless it is reflected on Traces site. You look as per these and to get manually Form 16A has no use in my opinion. Thanks
Discussion Forum - Knowledge Sharing .....

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