banner_ad

Is it duble benefit

Others 574 views 1 replies

is it double benefit  (red colour)     

Q.. Mr .X - salary income-530000 , interest income from post office-15000. calculate totale income of Mr. X

Ans.-income under the head salary

                                                salary income= 530000

        income under the head other source

                              interest income= 15000 

                           exempt u/s 10(15)=15000    = nil  

                           gross total income                 =  530000

         deduction under chapter- 6(80c-80u)

       80TTA-interest income from post office=   10000

                             total income                          =    520000

Replies (1)

Your view is wrong in case of Section 80 TTA deduction.

The deduction will be applicable only if the interest income is included in the Gross total Income(i.e. the income  before deduction)

As you mentioned the interest income is already exempt, no 80 TTA can be claimed for such interest as it is never part of gross total income.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details