Deduction under section 80tta
This query is : Resolved
31 July 2013
what happens when the net result under the head income from other sources inclusive of the savings account interest of Rs.12000/- results in a loss under that head which is set off against the income under the head Profits & Gains of Business. After the set-off of loss under the head other sources it still results in gross total income of Rs.260000/-. whether the individual is still entitled to claim deduction u/s.80TTA to the tune of Rs.10000/- ?????
31 July 2013
Yes 80TTA can be claimed for Rs.10,000.
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