Taxable salary

ITR 181 views 2 replies

Dear Experts,

I have query related to salary or other income.

1. i forget to give, bill of conveyance to the company which had not been reimbursed and that part of amount has been considered as a taxable and

2. bill for medicale reimbursement had submitted to comapany but still they have not shown in exempted part o income and charged tds 

3. other income

1. interest income on salary is around 25000 and band charged tds at 10%. my salary is above 10lc so m i eligible to get deduction under section 80TTA

Replies (2)

"......my salary is above 10lc so m i eligible to get deduction under section 80TTA?"
NO

Originally posted by : shobhit
1. interest income on salary is around 25000 and band charged tds at 10%. my salary is above 10lc so m i eligible to get deduction under section 80TTA


80TTA deduction of 10000 (Rupees ten thosands) is only applicable on "Interest from savings Bank Account" ,not even Fixed/Term deposit`s interest is eligible .
BUT from coming F.Y(18-19) senior citizens will be eligible to claim 80TTB**(Newly inserted in Fianance bill 2018) upto 50000 (Rupees Fifty Thosands), not only this but they will be able to claim this special rate of 80TTB deduction on  "interest earned from Savings bank account + Fixed/term deposits" ....

** Senior citizen claiming deductions under 80TTB will not be eligible for 80TTA deductions .


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