Deductions

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3 Points Posted on 28 March 2020
difference between section 80C and 80TTA
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On 28 March 2020 at 00:07 Report
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This discussion clarifies the distinction between tax deduction sections 80C and 80TTA. Section 80C relates to actual investments made in tax-saving instruments like LIC, PF, and PPF, up to a limit of ₹1,50,000. In contrast, Section 80TTA offers a deduction specifically for interest earned on savings accounts for individuals (excluding senior citizens), capped at ₹10,000, and requires no specific investment to be claimed.

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12244 Points Posted on 28 March 2020
What similarities you noticed between 80c and 80tta? both sections are totally different
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On 28 March 2020 at 00:47
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CFO- at NHTF
58280 Points Posted on 28 March 2020
80C for the actual investments made like LIC,PF,PPF, Tuition fees, Housing loan principal repayment etc maximum limit 150000/-


80TTA is specific section and it is available only to interest on savings interest of individuals other than senior citizens-and deduction available 10,000/-
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On 28 March 2020 at 07:06
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Profession
28271 Points Posted on 28 March 2020
Eswar garu


Sec 80 C is actually investment by individuals to claim exemptions from income .
There are several tax saving instruments.
Sec 80TTA
is a deduction available for individuals other than senior citizens.
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On 28 March 2020 at 10:00
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@ sabyasachi Mukherjee
How your answer make difference from What
Mr. Eswar Reddy has said in his reply.
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On 28 March 2020 at 10:08
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Consultant
1891 Points Posted on 28 March 2020

Section 80C is investment linked scheme in which deduction can be claimed of the investments made in a FY. 

Section 80TTA provides for deduction of Saving Bank Interest irrespective of the deposit/withdrawn made during s FY.  

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On 28 March 2020 at 12:54
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CFO- at NHTF
58280 Points Posted on 29 March 2020
@ Anisha Sharma:

We can say 80C deduction for the investments made.You must spent some amount to avail deduction.




Where as 80TTA is deduction against income received..No need of making any investment to avail deduction
2 Reply
On 29 March 2020 at 05:55

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