LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

senior citizens account

Singh Kamboj (396 Points)

22 July 2019

interest and amount of senior citizen account is fully exempted or not.

Reply
Follow
Share

2 Replies

ACA Sarita Laddha (Practicing CA) (1225 Points)
Replied 22 July 2019

under section 80ttb deduction interest upto rs 50000 is allowed

K H HAVEWALA (4 Points)
Replied 22 July 2019

80TTB is from 1-4-2019 and Rs 50000 includes SB interest also. Separate deduction under 80TTA for SB interest is not available to senior citizens from 1-4-2019 as the words "assessed other than assessee under 80TTB" are included in 80TTA from 1-4-2019.