WebMay 28, 2024 · This video will help you gain a better understanding about the Deduction available on Interest on Bank Savings Deposit u/s 80TTA and How to Claim it. ...more. ...more. 21:30. WebOct 16, 2024 · Under section 80TTA, if you earn income your bank deposit, that would be exempted (but not wholly). The income received in the form of interest from a bank savings account is taxable, however, the amount up …
80TTA - Claiming Tax Deduction on Interest Under …
WebApr 11, 2024 · "However, the contribution made by private sector employer towards Tier 1 NPS account is eligible for tax deduction under section 80CCD (2) up to 10 per cent of employee’s basic pay plus ... WebFeb 14, 2024 · Section 80TTA of the Income Tax Act was introduced in order to allow a deduction of up to INR 10,000 on such interest. Who can claim 80TTA deduction? … shortcut on keyboard for arrow
Section 80TTA: Deduction on Interest on Bank Savings Account
WebMay 10, 2024 · Section 80TTA of the Income Tax Act, 1961 deals with withholding tax on interest. These arrests apply interest to savings accounts held by individuals or the Hindu Undivided Families (HUF). The maximum deduction that may be required for all savings accounts is Rs.10,000. This catch is in excess of the Rs.1.5 lakh allowed under Section … WebMay 15, 2024 · So, we will cover all these deductions under section 80TTA, 80EE, 80GG, 80CCG, 80D, 80DD, 80DDB, 80U, 80G, 80GGC, 80RRB in this post. This is the part 2 of the deductions under VI-A. You can read about the part 1 of deductions under VI-A where we have discussed the section 80C, 80CCC, and 80CCD. Various Deductions under … WebJan 12, 2024 · Section 80TTA of the Income Tax Act allows taxpayers in India to enjoy deductions on their savings. The amount of deduction claimed under Section 80TTA is … san fernando valley groundwater contamination