Tax planning
FD and savings interest: interest certificate, accrual vs credit, 80TTA and 80TTB
- Bank interest is taxable, and the bank reports it to the tax department, often on an accrual basis even for cumulative FDs.
- Deadline: Before ITR filing; Form 121 (old 15G or 15H) at the start of the year if eligible
- Done in 1 working day
- Prepared by your Savvy, checked by a CA
- Interest certificates from banks
- Are you 60 or above?
- Collect certificates and AIS
- Interest schedule
FD and savings interest: interest…
Before ITR filing; Form 121 (old…
- IInformation5 documents
- DDiscussion4 questions
- FForms4 steps
- DDeliverablesInterest schedule
Answer in brief
Bank interest is taxable, and the bank reports it to the tax department, often on an accrual basis even for cumulative FDs. In the old regime you can deduct up to ₹10,000 of savings interest (₹50,000 of all deposit interest for seniors). We match certificates with AIS, decide accrual or receipt, and claim the right deduction.
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- Interest certificates from banks
- AIS and Form 168
- FD receipts or statements
- Tax regime choice
- Age proof for seniorsOptional
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Answers on this topic
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Pay and start
₹999
₹999 + ₹179.82 GST = ₹1,178.82
Yearly. Delivered in 1 working day. Due: Before ITR filing; Form 121 (old 15G or 15H) at the start of the year if eligible
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