Section 80tta of it act, 1961

This query is : Resolved 
 

(Querist) 04 August 2012

Can anybody tell me since which assessment year Section 80TTA of the Income Tax Act,1961 is going to be applicable ?
Also, let me know about any notification in this regard.


CA CS Amit S. Kedia (Expert) 04 August 2012

From A.Y 2013-14

CA CS Amit S. Kedia (Expert) 04 August 2012

section 31 of finance act 2012.

CA CS Amit S. Kedia (Expert) 04 August 2012

Section 31-
In Chapter VI-A of the Income-tax Act, after Part C, the following Part shall be inserted with effect from the 1st day of April, 2013, namely:—

'CA.— Deductions in respect of other incomes

80TTA. Deduction in respect of interest on deposits in savings account.—(1) Where the gross total income of an assessee, being an individual or a Hindu undivided family, includes any income by way of interest on deposits (not being time deposits) in a savings account



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