Hi,
If my savings A/C total interest is less than 10000 say just 4000 can I claim 80TTA deduction of 4000 or it is only applicable in ITR1 when the saving interest > 10000 but allowed only upto max 10000?
Thanks and regards.
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80TTA applicability
Replies (3)
Quick Summary
You can claim
If your Savings interest is above 10,000 then you can claim only 10000/-
If the interest is less than 10,000/- then actual interest only can be claimed and more than that .
Say if your interest is 4000/- then 80TTA deduction can be claimed for 4000/-
If your interest is 12000/- then only 10000/- can be claimed.
If the interest is less than 10,000/- then actual interest only can be claimed and more than that .
Say if your interest is 4000/- then 80TTA deduction can be claimed for 4000/-
If your interest is 12000/- then only 10000/- can be claimed.
You can claim deduction upto 10000. If interest is less than it, claim full deduction of interest . If more than limit then only 10000 allowed.
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