I m a house wife and earned more than Rs 10000 as an int. i hav 2 pay income tax. how much?

As per INCOME TAX ACT for women exemption limit for the one financial year is RS. 1,90,000/- so u dont have to pay tax on your interest income of Rs. 10,000/- because it is in the limit of exemption. But if you all income interest income and income from other source is exist the exemption limit than you have to pay tax as under.. * Up to Rs. 190,000 - Nil * Rs.190,001 to Rs. 500,000 - 10 percent * Rs.500,001 to Rs.800,000 - 20 percent * Rs.800,001 and above - 30 percent And i m sorry for your question about saving of your money..:-)

As ur women ur basic exemption limit is Rs.190000 and hence ur not in tax purview... any ways Interest Income is either assessed as 'Business Income' or as 'Income from other sources' depending upon the activities carried on by the assessee. If the investment yielding interest is part of the business of the assessee, the same would be assessable as 'business income' but where the earning of the interest income is incidental to and not the direct outcome of the business carried on by the assessee, the same is assessable as 'Income from other sources'. Business implies some real, substantial and systematic or organized course of activity with a profit motive. Interest, generated from such an activity, is business Income; else it would be interest from other sources. u can invest ur money in items mentioned in Sec.80c such as LIC. mutual funds, FD, NSC etc..which are commonly known and the limit is rs.1lac and add.amount of rs.20000 is allowed if invested in long term infrastructure bonds us 80CCF

you have got your answer about tax, For investment, there are no rebate over FD & RD, In fact you do not require any rebate, for saving there are several mutual fund through you can take SIP to create a fund.

200