Eligibility of 80TTA

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This discussion clarifies the eligibility for tax deductions under Section 80TTA, which applies to interest earned from savings accounts with banks, co-operative societies, or post offices. It specifically excludes interest from fixed deposits and recurring deposits. For senior citizens, Section 80TTB offers a higher deduction of up to Rs 50,000 on interest from all types of deposits.

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Chief Accountant
20 Points Posted on 17 September 2020
Thank you.
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On 17 September 2020 at 09:30
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Tax and Business Consultant
20 Points Posted on 20 September 2020
Most welcome.........
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On 20 September 2020 at 00:44

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