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Impact of section 10(15) and 80tta
If the total interest from post office savings account is Rs. 20,000, then will the tax payer be able to claim a deduction of Rs. 13,500 (i.e Rs. 3500 reduced from the interest income under section 10(15) and Rs. 10,000 claimed as deduction under section 80TTA). Kindly clarify, thanks
Replies (3)
I think it can be claimed
Thank you, but I want a confirmation of whether it can be claimed or not, with reasons.
Section 10(15) deals with exemption of income and 80TTA with deduction. Exemption and deduction are different. Hence I feel both can be claimed. In support of this, I could only get an article. See the link: https://www.taxvani.com/2013/06/deduction-in-respect-of-interest-on.H T M L
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