whether 80 TTA can be claimed for
the monthly income from the scheme.
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Monthly income scheme of post office
Replies (3)
If the scheme is post office savings account deduction can be claimed.
Section 80TTA provides a deduction of Rs 10,000 on interest income. This deduction is available to an Individual and HUF.
This deduction is allowed on interest earned –
- From a savings account with a bank
- From a savings account with a co-operative society carrying on the business of banking
- From a savings account with a post office
whether monthly income scheme falls under Savings account
Section 80TTA claims a deduction of 10000 INR on the interest income. This deduction is conceded on interest earned from a savings account with a bank. This deduction is available to HUF and an Individual. From a savings account with a co-operative society leading on the business of banking.
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