5 years tax saving FD

Please advise whether interest received from 5 years tax saving FD can be claimed under section 80TTA or not? 

Replies (4)
Quick Summary
This discussion clarifies whether interest earned from a 5-year tax-saving Fixed Deposit (FD) can be claimed as a deduction under Section 80TTA of the Income Tax Act. The consensus is that Section 80TTA specifically applies to interest earned from savings bank accounts or post office accounts, up to a limit of Rs. 10,000. Interest from FDs, including tax-saving ones, is not eligible for this particular deduction.

You can get upto Rs. 10000 deduction of saving bank interest u/s 80 TTA.

This interest is from FD. 

Is FD interest eligible for deduction under 80TTA? 

You can't claim FD interest u/s 80TTA only Saving bank Or post office interest is allowed

Noted with thanks. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Follow