I already e-verified my ITR under new regime. It’s automatically added all the income while filing, except my savings bank interest of 1000 rs (shown in AIS) and i tried to add it manually in other source income section, but there’s no option for “savings bank interest”, so i neglected & filed the ITR.
I’m eligible for refund of around 30k which was deducted under TDS. So will they deducted extra tax on savings interest while refunding or do i have to revise the return & add extra income ?
Hello @Ritheesh
Interest from savings account is exempt upto 10k if you opt for old tax regime.
However, it is taxable under the new tax regime.
In my opinion, you should revise the ITR. There is no specific field for savings bank interest. It is common for interest income under Income from other sources.
Hope, this helps!
If you missed adding your savings bank interest while filing your ITR, don’t worry. You can file a revised return to include the interest income. Ensure all interest earned is reported under ‘Income from Other Sources’ to avoid penalties and maintain accurate tax records.