80 tta deduction allowable
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2016
whether deduction of 80 TTA is allowable on accrual basis or payment basis,
KAVIRAJA ADDANGADI
(Expert)
18 August 2016
Sec 80TTA is allowed interest received in a savings account held with banks, cooperative banks and post office. The deduction is restricted to Rs 10,000 or actual interest whichever is lower.
Amol S Joglekar
(Expert)
18 August 2016
it is allowed in the same year in which the savings bank interest is offerred for taxation.....
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