My SBI account was saving account which has been turned into MOD account linked to that old saving account. Now am I eligible to show Rs. 10000 in 80TTA for the calculation of TDS on interest I have received?
Sainik Das (PSU) (52 Points)
14 June 2017My SBI account was saving account which has been turned into MOD account linked to that old saving account. Now am I eligible to show Rs. 10000 in 80TTA for the calculation of TDS on interest I have received?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 14 June 2017
Yes, but check to offer interest over switch-in as interest income over FD.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 14 June 2017
Inerest over MOD transferred to FD is not treated as savings account interest, though you have not opened FD directly. So whenever interest is credited to your account as FD/MOD breaks, that interest is not deductible u/s.80TTA.
RAJA P M
("Do the Right Thing...!!!")
(127046 Points)
Replied 14 June 2017
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