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Interest on FD

DEEPAK KADAM (61 Points)

16 August 2020

Does interest on FD comes under 80TTA?

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4 Replies

Shahid Saifi (none) (67 Points)
Replied 16 August 2020

No, FD is specifically excluded from the section

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 16 August 2020

No, Deduction under section 80TTA covers only interest from saving bank accounts, not FD.

Interest from FD is covered under section 80TTB, but Deduction u/s 80TTB is allowed only to senior citizens

Vijay Prakash (155 Points)
Replied 16 August 2020

Interest from Savings bank account comes under 80TTA.

Santosh jaiswal (281 Points)
Replied 16 August 2020

No only saving account interest comes under 80TTA

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