Ministry of Finance 

01.01.1900

Direct Taxation

Interest income to be included in tax return

MANU/PIBU/0345/2016

The Central Board of Direct Taxes notified persons earning interest income that interest credited or received on deposits is taxable unless exempt under Section 10 of the Income Tax Act, 1961. Such interest income should be shown in the return of income even in cases where Form 15G/15H has been filed if the earning is not exempt under Section 10 and the total income of the person exceeds the maximum amount not chargeable to tax.

Tags : Income tax return interest income inclusion

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