Incometax e-filing

Tax queries 144 views 1 replies

G S KRISHNAMURTHY

retired sr manager

28 Points Joined June 2016

1) Under what section the interest earned in SB acs maintained with banks, exempted upto Rs-10,000/-

2) For housing loan repayment towards principal, earlier there used to be a monthly ceiling of Rs-10,000/- in addition to overall ceiling of Sec 80 C. Is this sub-limit of Rs-10,000/- still exists ?

Replies (1)

CA Harshal Totla

Chartered Accountant

2229 Points Joined May 2014

Dear sir, answer to your queries is as follows;
1) U/s 80TTA you can claim exemption on interest earned in SB accounts with banks.
2) No such limit exists now, for principal repayment of housing loan ceiling u/s 80C alone shall apply.