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I am a salaried employees

Question is tax deducted on bank account profit not exceeded 5 million and tax deducted on mobile recharge are adjustable or final and fix?

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If you are a salaried employee:

  • Bank account profit (below Rs. 5 million) – The tax deducted by the bank on profit from savings accounts or term deposits below Rs. 5 million is treated as final tax. This means it is not adjustable in your annual return and cannot be claimed back.

  • Mobile recharge/bill tax – The tax deducted on mobile top-ups and bills is adjustable. You can include it in your annual tax return to reduce your payable tax or claim a refund if your liability is lower

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