Bank allowed interest on investment
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SAVINGS ACCOUNT: Interest on savings account is taxable as per Income tax slab rates applicable to the investor. However, deduction under section 80TTA is allowed on interest from savings account with a maximum of Rs.10,000/- per year. ... "TDS on saving interest is not deducted like fixed deposit and term deposit.
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int on investment a/c --------- Dr
To Bank a/c
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int on investment a/c --------- Dr
To Bank a/c
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