WebMar 24, 2024 · The deduction is available on interest earned from savings accounts held with banks, co-operative societies, and post offices. However, it does not include … WebNov 10, 2024 · Is Section 80tta applicable to FD interest? No, section 80TTA is specifically not applicable on fixed deposits, term, deposit, or recurring deposits. …
Section 80TTA of Income Tax Act - Groww
WebJan 30, 2024 · Interest from fixed deposits; Interest from recurring deposits; Any other time deposits, Maximum deductions allowed under Section 80TTA. The maximum … WebAug 3, 2024 · Under 80TTA of the Income Tax Act, interest up to Rs 10,000 earned from all savings bank accounts is not taxable. This is valid for co-operative banks, post offices or savings bank accounts. If the interest earned from all these sources is more than Rs 10,000, then the extra amount comes under tax deduction. This means that if somebody … onclick hover html
Section 80TTB: Rs. 50000 deduction on interest income to
WebApr 11, 2024 · At present, a deduction upto Rs 10,000/- is allowed under section 80TTA to an assessee in respect of interest income from savings account. It is proposed to insert a new section 80TTB so as to allow a deduction upto Rs 50,000/- in respect of interest income from deposits held by senior citizens. However, no deduction under section … WebJan 19, 2024 · Select “interest from saving account” in the drop-down list. The deduction under Section 80TTA should be calculated automatically. Verify if the amount of … WebBut w.e.f 1 st April 2012 an amendment has been brought in the Income Tax Act and a deduction of Rs. 10,000 is allowed under Section 80TTA for Interest earned in a … onclick hide div in angular