Is it duble benefit

is it double benefit  (red colour)     

Q.. Mr .X - salary income-530000 , interest income from post office-15000. calculate totale income of Mr. X

Ans.-income under the head salary

                                                salary income= 530000

        income under the head other source

                              interest income= 15000 

                           exempt u/s 10(15)=15000    = nil  

                           gross total income                 =  530000

         deduction under chapter- 6(80c-80u)

       80TTA-interest income from post office=   10000

                             total income                          =    520000

Replies (1)

Your view is wrong in case of Section 80 TTA deduction.

The deduction will be applicable only if the interest income is included in the Gross total Income(i.e. the income  before deduction)

As you mentioned the interest income is already exempt, no 80 TTA can be claimed for such interest as it is never part of gross total income.

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