Please explaine Deduction in respect of interest on deposits in savings accounts U/s. S. 80TTA for the assesment year 2015-16. What amount should be deduct?
From India, Mehsana
From India, Mehsana
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Hi,
Section 80TTA was introduced with effect from Assessment Year (A.Y.) 2013-14 to provide a deduction to an individual or a Hindu Undivided Family in respect of interest received on deposits (not being time deposits) in a savings account held with banks, cooperative banks, and the post office. The deduction is limited to Rs 10,000 or the actual interest received, whichever is lower.
Regards,
Ashish Thakkar
From India, Pune
176Section 80TTA was introduced with effect from Assessment Year (A.Y.) 2013-14 to provide a deduction to an individual or a Hindu Undivided Family in respect of interest received on deposits (not being time deposits) in a savings account held with banks, cooperative banks, and the post office. The deduction is limited to Rs 10,000 or the actual interest received, whichever is lower.
Regards,
Ashish Thakkar
From India, Pune
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