Do we get any Interest (from Fixed Income) exemption this year. Is there any limit to it?

Question

Before 2-3 years there was exemption limit of 10000/- on interested earned. Is there any limit now?

Answer 1

Section 80 L Benefit of Income Tax is no more admissible and you are required to add your interest to your income now.

Answer 2

The int.exempetion limit under section 80L removed from F.Y. 2005-06 onwards. So even if you receive 1 Re.int from
deposit you have to add the same to your salary to arrive the tax as int.earned is taxablet.