My SBI account was saving account which has been turned into MOD account linked to that old saving account. Now am I eligible to show Rs. 10000 in 80TTA for the calculation of TDS on interest I have received?
My SBI account was saving account which has been turned into MOD account linked to that old saving account. Now am I eligible to show Rs. 10000 in 80TTA for the calculation of TDS on interest I have received?
Yes, but check to offer interest over switch-in as interest income over FD.
Sir,
Kindly elaborate.
Inerest over MOD transferred to FD is not treated as savings account interest, though you have not opened FD directly. So whenever interest is credited to your account as FD/MOD breaks, that interest is not deductible u/s.80TTA.
Most Welcome.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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