Regarding section 80tta and 80ttb
This query is : Resolved
PRIYANKA SAWANT
(Querist)
12 March 2019
A SENIOR CITIZEN EARNS INTEREST OF RS.20000/- ON SAVING BANK A/C AND INTEREST OF RS.30000/- ON TIME DEPOSIT WITH A BANKING COMPANY. HOW MUCH DEDUCTION HE WILL BE GET U/S 80TTA/ 80TTB FOR ASS.YR 2019-20?
14 March 2019
In case of time deposits for senior citizens Rs 50000/- exemption is available.
K Srinivas, CMA CS
(Expert)
15 March 2019
Rs.30,000 u/s 80TTB and Rs.10,000 u/s 80TTA for interest from time deposits and interest from savings account respectively
Dhirajlal Rambhia
(Expert)
21 November 2021
For senior citizen, no 80TTA deduction available.
He can claim Rs. 20K under 80TTB.
Interest on Time deposit with company need to be checked for any such deduction.
He can claim Rs. 20K under 80TTB.
Interest on Time deposit with company need to be checked for any such deduction.
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