if i kepp 2-4 lakhs in a savings account, will it be taxable - Ammas.com Ask Agent™ : Ask questions, Seek advice, Ask an expert

Ammas.com Ask Agent™ -- An Answer for Everything

How it works

MEMBERS LOGIN

EMAIL ADDRESS
PASSWORD

Register! Forgot password?

CATEGORY : INVESTING
	All Investing Advice
	Unanswered Queries
	FileAgent Document Exchange
	Council Members
	Advisor Rankings
	Top Investing Sites

Top Rated Advisors

Name	Ask Me Rate (in AA$)
Pranab Paul	$140.00
Ammas.com, Ltd	N/A
C. Raj, United Kingd	$1,000.00
Kranthi Kumar	$10.00
R S	$1,600.00
Sencan Topaloglu	N/A
people creative	N/A

More Advisors...

Home > Categories > Business and Economy > Investing > View Advice

Query from: shahazia, india, 01/26/10

Topic: INVESTING Submitted on: Ammas.com

Subject: if i kepp 2-4 lakhs in a savings account, will it be taxable

if someone's savings account has a balance of 4 lakhs, will it be taxable

(Rated by 3 Council Members)

[ This query closed ]

	Response from: Kranthi Kumar, Council Member on Ammas.com Source: This information comes from my own knowledge. Hi Shahazia, The interest earned on 2-4 lakhs investment will be taxable. Assuming that you have earned this 2-4 lakhs and already paid tax before. Good Luck! (Rated by 1 Council Member)
Thank this advisor

	Response from: vrindha nair, Council Member on Ammas.com Source: This information comes from my own knowledge. Hi, Yes it will, with increase of interest added to the amount. I hope I have given the answer the query you asked. (Rated by 1 Council Member)
Thank this advisor

	Response from: Venkatadesikan M, Registered Member on Ask Agent Source: This information comes from my own knowledge. Well, the tax will be on the savings account interest earned. and that will be taxable as per the tax slab you come under. Thats why you will have your auditor ask for the SB account interest earned through the financial year to account-for during the filing process. Hope this helps. Venkat M (Rated by 2 Council Members)

More Investing Advice

	Privacy Policy
	Terms & Conditions
	Ask Agent™ Tech Support/Help
	Contact Us
	Advertising Program
	About the Ask Agent™ technology
	Affiliate Program
	Celebrity Queries
	Latest Updates

Get the latest queries and responses via

Important Disclaimer: This question and answer system is open to the public. The opinions expressed are those of their individual authors, as attributed beside each item of advice. Neither the authors nor the information they provide are endorsed by this website. We recommend using common sense, making your own inquiries, and, if necessary, seeking professional advice before relying on material generated on this site.