I understand from one of the discussion fora on I-tax, that a new section 80TTA has been introduced from this FY (2012-13)which exempts Bank interest upto 10000 from Income tax. This does not match with what has been expressed in one of your replies in the forum which has related it to TDS limit.
Please shed more light on this and give the full correct position about this section. Is this exemption applicable from April 2012 to March 2013?
Regards
J Y Desai
CAclubindia
