Interest Income certificate for interest on Saving bank account

POSTED BY subhaschandrac ON October 12, 2013 7:13 am ONE COMMENT

Sir

I have some fixed deposits and for that TDS is carried out by Bank and Form 16A is issued at year end which will be added in my annual income tax return as other income

But Iam unable to comprehend whether interest income shown in the Form 16A is inclusive of interest earned on S.B A/c too?

in case if it is only for Interest on FD’s?

whether it is necessary to apply for interest income certificate relating to interest on Savings accounts too and added to other income in annual return.

Pl throw some light on this aspect.

One reply on this article “Interest Income certificate for interest on Saving bank account”

  1. Anshuk Jain says:

    No. the interest income in the form 16A is not inclusive of SB A/c. It is only for FDs. You will not get any certificate for interest earned on SB A/c. You need to calculate and apply it yourself.. though SB A/c upto 10,000 is tax free

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