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
Acknowledge(0)
Amend(0)
From India, Mehsana
Acknowledge(0)Amend(0)
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
Acknowledge(0)Amend(0)
182Section 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
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
Section 6A Karnataka Shops and Establishment Act.jpg