WebOct 4, 2024 · An individual and a Hindu Undivided Family (other than senior citizens) can claim deduction under section 80TTA. Only a senior citizen can claim deduction under section 80TTB. Type of income allowed as a deduction: Interest income earned on a savings account. It doesn’t include fixed deposits interest or recurring deposits interest. WebDeduction under section 80TTA/TTB is not reflected. Print. As per the Income Tax Act, losses from non-speculative business income can be set off against income from other …
Section 80TTA – All About Claiming Deduction On …
Web4 rows · Nov 10, 2024 · Quantum of deduction under Section 80TTA of Income Tax Act. The maximum deduction allowed u/s ... WebJul 26, 2024 · The tax deduction under section 80TTA can be claimed for interest earned on savings accounts held with a bank, co-operative bank or a post office. This deduction … solo leveling thailand
Section 80TTA/80TTB: Deductions for Interest Income
WebOct 3, 2024 · Interest income earned from any type of time deposits. The maximum amount of deduction available under section 80TTA is lower of the following –. INR 10,000. In simple terms, if the eligible interest income is less than INR 10,000, then, the entire interest income would be allowed as deduction. WebFeb 14, 2024 · As discussed formerly, a resident senior citizen will be able to claim a deduction of up to INR 50,000 under this section. If the interest earned from the deposit is less than INR 50,000 then the whole would be allowed as a deduction under section 80TTB. But if the interest earned from the deposit is more than INR 50,000 then a … WebJan 30, 2024 · The tax deduction under Section 80TTA is in addition to the deduction of Rs. 1.5 lakhs, under Section 80C. What is the due date for filing income tax returns in … solo leveling tome 4 collector