01 July 2014
No, u r wrong. It is available if u have invested certain amount in LIC, Sec, Housing Loan etc(80C) and mediclaim(80D). If u have not any income from other sources till then u r eligible for that deduction under chapter VI-A of IT Act.
01 July 2014
you can claim any deduction which is related to his income and u/s 80C you can claim . and intt. on saving a/c upto Rs. 10000./- can calim u/s 80TTA
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