Problems in 80l
This query is : Resolved
SUSHANT SINGHAL
(Querist)
28 February 2013
Please tell me whether Saving bank account interest is allowed as deduction u/s 80L
CA Prashant Gupta
(Expert)
28 February 2013
80L was upto A.Y. 2005-06
Now it is not available
Now it is not available
Santosh Mishra
(Expert)
02 March 2013
Yes section 80L has done way. But new section 80TTA has been inserted from financial year 2012-2013, you can claim exemption of interest up to 10000.
CA Prashant Gupta
(Expert)
02 March 2013
80TTA is only for individual and HUF.
Santosh Mishra
(Expert)
02 March 2013
Yes Sir, 80TTA is only for individual and HUF but I believe section 80L in question also was for individual and HUF only.
CA Prashant Gupta
(Expert)
02 March 2013
but 80L was till A.Y. 2005-06 so that is not relevant, I think
Santosh Mishra
(Expert)
02 March 2013
Yes, you are correct. I mentioned this in my first reply as well.
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