04 August 2012
Can anybody tell me since which assessment year Section 80TTA of the Income Tax Act,1961 is going to be applicable ? Also, let me know about any notification in this regard.
04 August 2012
Section 31- In Chapter VI-A of the Income-tax Act, after Part C, the following Part shall be inserted with effect from the 1st day of April, 2013, namely:—
'CA.— Deductions in respect of other incomes
80TTA. Deduction in respect of interest on deposits in savings account.—(1) Where the gross total income of an assessee, being an individual or a Hindu undivided family, includes any income by way of interest on deposits (not being time deposits) in a savings account
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