Do I have to enter all the interest amounts that I got from my savings accounts in my return form, even if the interest amounts total to less than Rs.1000? In other words, is there an exemption limit for interest amount, especially those earned from savings accounts?

ravit:

Do I have to enter all the interest amounts that I got from my savings accounts in my return form, even if the interest amounts total to less than Rs.1000? In other words, is there an exemption limit for interest amount, especially those earned from savings accounts?

 

Hi Ravi,

If you received a Form-16A from your bank regarding this interest income then you must declare it while preparing your returns.