19 May 2016
Section 80TTA is introduced with effect from April 01, 2013 and apply from AY 2013-14 and onwards. Section is introduced to provide deduction to an individual or a Hindu undivided family in respect of interest received on deposits (not being time deposits) in a savings account held with banks, cooperative banks and post office. The deduction is restricted to Rs 10,000 or actual interest whichever is lower.
Abhishek Ranjan Singh ARS Solutions www.arssolutions.co.in +919022838615
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