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
Hi,
Section 80TTA is introduced wef A.Y. 2013-14 to provide 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 post office. The deduction is restricted to Rs 10,000 or actual interest whichever is lower.
Regards,
Ashish Thakkar
From India, Pune
175Section 80TTA is introduced wef A.Y. 2013-14 to provide 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 post office. The deduction is restricted to Rs 10,000 or actual interest whichever is lower.
Regards,
Ashish Thakkar
From India, Pune
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