POSTED BY September 29, 2012 12:56 pm ONE COMMENTON
My understanding is that if I park some lum sum amount in the SBI Maxgain account the tenure will come down as principal amount would be reduced. So indirectly I am earning 10%(current effective home loan interest rate) on my funds parked in the current/savings account. So do I need to add this notional income while filing returns! If not, its a wonderful avenue from a debt point of view you have both liquidity + notional interest rate earnings (home loan interest rate )which would be always greater than the FD rates!
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One reply on this article “What are SBI MaxGain tax implications, I mean is it considered as notional income ?”
Dear Rohit, please check the below link –
If still you are in doubt for Max Gain, please inform me & I ‘ll try to clear your doubts.