80 ttb with respect of Post Office investment

266 views 8 replies
Interest earning on which of the following post office deposits qualify for 80ttb for an eligible taxpayer,
NSC, MIS, TD, SCSS, KVP,. To a layman it appears everyone of these deposits as these are investments in post office. Again earlier NSC interest qualified for 80 c benifit. Has it been withdrawn? Thank you.
Replies (8)
Yes 80TTB provide deduction of interest on all kinds of deposit
If that be so, the interest accrual on NSC should not qualify for 80 c benefit, I guess. The logic being there cannot be double benefit.
Kindly confirm. Thank you.
Thing is not like that... means like deduction on interest on housing loan available under section 24b and 80EE... thus like interest on NSC is available with 80C and 80TTB for SENIOR CITIZEN ONLY... if assessee have exhaust its limit under section 80C can claim deduction under section 80TTB..
I seek a clarification. Do you mean that first I have to claim 80 c on NSC interest and subsequent if needed 80 ttb on the same?
Let me be more specific. If I claim 80 ttb for all my interest received in Bank and Post Office deposits including NSC interest, and 80 D benefit, my taxable income comes less than the exemption limit. Can I do it without resorting to availing 80 c on NSC interest?
Thank you.
Yes you can do..
I thank you again.
Agree with @ CA Abhay Gupta
Gupta ji very correct, Go ahead

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details