2 thoughts on “Savings Bank Account becomes Tax Efficient: Budget 2012

  1. I have three saving bank accounts of different banks. If I got interest of Rs.6000/- from each bank, should I show the income of( Rs.18000/- – Rs.10000/-) Rs.8000/- in income tax return or I will get exemption as I got less than Rs.10000/- from each saving bank account.

    • The 80TTA exemption is on aggregate interest across all your bank accounts. So you’ll have to show Rs 8,000 as taxable income.

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