Deduction u/s 80TTA

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29 Points Posted on 27 October 2020
I hv business loss of Rs. 180000 in non speculative business, salary income of Rs. 580000 and interest from other sources Rs. 19142, whether I can get deduction of saving interest U/s 80TTA.??
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On 27 October 2020 at 14:11 Report
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This discussion clarifies whether an individual can claim a deduction under Section 80TTA for savings interest, even if they have a non-speculative business loss. The consensus is that the deduction is permissible. It's confirmed that you can claim up to Rs. 10,000 as a deduction on savings interest, regardless of your senior citizen status, when filing your Income Tax Return (ITR) 3. Ensure you correctly fill out the relevant sections in your ITR 3 for the deduction to be applied.

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285 Points Posted on 27 October 2020
Are you a senior citizen
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On 27 October 2020 at 14:39
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Accountant
3662 Points Posted on 27 October 2020
Yes, you can take deduction

No restrictions
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On 27 October 2020 at 15:46
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29 Points Posted on 27 October 2020
No senior citizen
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On 27 October 2020 at 15:49
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Tax consultant
5895 Points Posted on 27 October 2020
Yes you can get deduction as per under section 80TTA file ITR 3
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On 27 October 2020 at 20:18
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29 Points Posted on 27 October 2020
Computation of income nt showing deduction.
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On 27 October 2020 at 20:25
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Tax consultant
5895 Points Posted on 27 October 2020
10000 will be deducted
which form you filling
what is the source of your interest
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On 27 October 2020 at 20:29
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29 Points Posted on 27 October 2020
ITR 3 filing. saving interest is source.
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On 27 October 2020 at 20:40
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Accountant
3662 Points Posted on 27 October 2020
You can take deduction, No confusion
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On 27 October 2020 at 21:04
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Tax consultant
5895 Points Posted on 27 October 2020
Fill the form
come to secluded TTI part
click validate then calculated tax
your Deduction will be there
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On 27 October 2020 at 21:19

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