I understand from one of the discussion fora on I-tax, that a new section 80TTA has been introduced from this FY (2012-13)which exempts Bank interest upto 10000 from Income tax. This does not match with what has been expressed in one of your replies in the forum which has related it to TDS limit.
Please shed more light on this and give the full correct position about this section. Is this exemption applicable from April 2012 to March 2013?
Regards
J Y Desai
Ther is something miss.... nikhil...
"The section is applicable with effect from April 01, 2013 and will apply from AY 2013-14 and onwards."
the AY in above should be AY 14-15 no ?
I think its applicable from 1st Apr 2012 (ie AY 13-14)
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