Clarification on 80tta deduction?
This query is : Resolved
06 August 2013
Kind Attention,
Sir
Salary Income is Rs.250000/-
Income from Other Source i.e Bank Interest Rs.20000/-
Business Loss Rs.(20000)
Gross Total Income Rs.250000
Can I Claim Deduction of Rs.10000/- under Section 80TTA ?
Regards,
Rakesh
Sir
Salary Income is Rs.250000/-
Income from Other Source i.e Bank Interest Rs.20000/-
Business Loss Rs.(20000)
Gross Total Income Rs.250000
Can I Claim Deduction of Rs.10000/- under Section 80TTA ?
Regards,
Rakesh
06 August 2013
Deduction u/s 80TTA is available only for Interest on SAVING ACCOUNT.
If the above Rs. 20,000/- is interest on saving bank, then you are eligible for deduction of Rs. 10,000/- u/s 80TTA.
If the above Rs. 20,000/- is interest on saving bank, then you are eligible for deduction of Rs. 10,000/- u/s 80TTA.
06 August 2013
the ans is yes, only upto rs 10,000 only.
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