Budget

Kk Nair (154 Points)

02 February 2018  
As per Budget senior citizens have been given tax rebate of Rs.50,000/-instead of 10,000/-. Is this a new section introduced under sec 80 TTA(may be 80TTB) for exemption of interest on Savings account only? Is there any other rebate of Rs.50,000 on interest on FDs or the interest on FDs etc.to be included for taxation? I think Int on FDs are not exempted but the 50,000 Limit is only for submitting Form 15H. Please elucidate.