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Deduction of interest on certain deposits


JAMES C DAVID (Senior Superintendent K S E B Ltd)     20 January 2020

JAMES C DAVID
Senior Superintendent K S E B Ltd 
 62 points

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my father who is 81yrs old has a Savings bank account in State Treasury. whether the interest from the SB can be deducted whole computing the IT for AY 20-21

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Chandran Nallur Krishnaswamy   20 January 2020

Chandran Nallur Krishnaswamy

 39 points

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Yes, he can u/s 80 TTB up to a maximum of ₹50000.

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Kapadia Pravin   23 January 2020

Kapadia Pravin

 869 likes  13559 points

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What do you mean by state treasury ?
Do you hold GoI bonds or securities ?
PL clarify


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