i have received sms from IT that there is mismatch in my IT return for A.Y 17-18. I checked and that interest of bank account as per form 26 AS was not included in ITR.
now before complying, i want to know .... is interest from MOD of SBI is exempted under section 80TTA or any other section? i got interest of Rs. 3727 during F.Y. and as per form 26AS.
please guide
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income mismatch in ITR
Replies (3)
MOD of SBI are one type of Fixed Deposit and its interest income is taxable.......
Just agree to mismatch......
in my opinion interest receipts from mod account is eligible to claim deduction under 80TTA because only interest receipts from fixed or time deposit is not eligible for 80TTA. here mod deposits are not made for fixed period. so in my opinion, you can avail 80TTA. Correct me if iam wrong
only interest (upto Rs. 10,000/-) in SB account is eligible for deduction u/s 80TTA. No interest on FD/TD etc. is eligible for deduction u/s 80TTA. MOD(Multi Option Deposit) is nothing but Time Deposit linked with SB A/c. Hence, MOD interest is not eligible for 80TTA.
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