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About Sec 80TTA
Under section 80 TTA, the exemption for interest on saving account is maximum Rs.10,000/-. If total interest on saving account is Rs. 15,000/- then what is the taxable amount?
Replies (2)
Rs.5000 will be taxable. Deduction allowed is Rs.10000 or interest received which ever is lower.
15k
Less: 80TTA 10k
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5,000 is the taxable value
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Less: 80TTA 10k
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5,000 is the taxable value
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