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80TTA

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(Querist)
01 August 2017 Wether Foreign Savings bank account Interest is eligible for deduction U/S 80TTA for residents
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
01 August 2017 No. Interest from savings accounts in banks allowed only if it's a banking company to which Banking Regulations Act. Banks in other countries are not regulated under Banking Regulations Act and hence the deductionon interest from such accounts are not allowed
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