Queries on Income tax and return filing

POSTED BY samay ON May 24, 2014 6:53 pm COMMENTS (4)

Hi,

I am a employee in a private sector company. I am filing my ITR for AY 13-14. I have following queries. Please help. Thanks in advance.

  1. How to show interest received on saving bank account. (it is less than 5000)
  2. How to show interest received on PPF account. (Rs 7500)
  3. As per my calculation i have to pay balance tax of Rs 14000. Should i pay tax 1st and then file ITR or it can be paid after filing ITR.

4 replies on this article “Queries on Income tax and return filing”

  1. samay says:
    May 31, 2014 at 1:32 pm

    Could you please also help me to know the significance of “Total Amount Paid /
    Credited” shown in the form 26AS.

    Reply
  2. samay says:
    May 31, 2014 at 12:09 pm

    Thank you Bala & Hemanth.

    Reply
  3. Hemanth Chandra says:
    May 25, 2014 at 1:13 pm

    1. If the interest is solely from the savings account, as Bala said, you don’t have to pay the tax on interest.

    2. You just no need to declare interest that u got in PPF

    3. You have to pay the tax before as you have to give the details of the tax payment in the ITR form.

    Reply
  4. apna bala says:
    May 24, 2014 at 10:20 pm

    Dear Samay,
    1. Interest received on saving bank account. (it is less than 5000)-If the interest received on saving bank account is less than Rs 10,000.00-you need not to pay tax

    2 interest received on PPF account. (Rs 7500)-Interest received on PPF is not taxable.

    Dear Experts,
    I have just started answering ,pls correct if i am wrong .

    Reply

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