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80TTA Deductions

ITR 289 views 2 replies

CuriousMind

155 Points Joined July 2022

Dear CAs/Tax Experts ,

Good evening ! Can someone pls help understand , why 80TTA is throwing error ( attached ) and not considering any exemption while filing ITR1 , when I'm putting 10K for the tax rebate

Any help here will be appreciated sincerely .

Best Regards

Attached File : 3692254 20230708211337 80tta error.jpg downloaded: 20 times

Replies (2)

Raj Rajesh yadav

31 Points Joined December 2021

Dear tax payer,
deduction u/s 80TTA will be allowed only if you have interest income from savings account. it will be allowed only under old regime but not under new regime

CuriousMind

155 Points Joined July 2022

Thanks for your response Raj !

Yes, you are right , if we don't mention the SBA interest income under income sources , then this 80TTA section will not consider this 10K deduction . All set now .