80tta
pavan kumar (article) (103 Points)
26 March 2014
what extent i claim deduction under section 80 tta
16 Replies
SIVARAMAKRISHNAN P.G
(CA final student)
(129 Points)
Replied 26 March 2014
Under Sec 80TTA deduction upto Rs 10,000 can be claimed.
CA SONIYA AGARWAL
(self practice)
(3005 Points)
Replied 26 March 2014
80 TTA IS FOR INTEREST EARNED IN SAVING ACCOUNT WITH BANK , DEDUCTION IS AVAILABLE UPTO 10000/-
FOR MORE DETAILS CHECK https://law.incometaxindia.gov.in/DIT/Income-tax-acts.aspx
pavan kumar
(article)
(103 Points)
Replied 26 March 2014
Suppose sbh bank interest has Rs.4500 & axis bank interest has Rs.3000.so what amount i can claim deduction u/s 80tta.
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 26 March 2014
First put the amount in income from other sources 7500 and then in 80ttA 7500. I hope answer is clear. Regards
shailesh garg
(Article)
(41 Points)
Replied 26 March 2014
manoj mehta is correct regarding claiming of deduction under 80 tta
gaurav gandhi
(assistant accounts manager)
(30 Points)
Replied 26 March 2014
Yes, fellow freinds are correct.
Chetan
(articles assistant)
(26 Points)
Replied 26 March 2014
Anybody plz tell is it also cover post office saving intt.?
Yogesh Shah
(Managing Corporate Finance)
(1051 Points)
Replied 27 March 2014
Hi Chetan.. Yup, Sec 80TTA covers post office saving interest also
Pardeep
(Student CA IPC / IPCC)
(32 Points)
Replied 27 March 2014
In case of post office saving 3500 exemption also available
Yuvaraj
(NA)
(32 Points)
Replied 27 March 2014
Interest earned to Rs 7500 or upto Rs 10000 which ever is lower can claim deduction.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 27 March 2014
80TTA is applicable only for individual and HUF. And deduction Up to Rs.10000 is available.
Varun Shankar
(Article Assistant)
(27 Points)
Replied 27 March 2014
Yes....post office interest is exempt upto Rs. 2500.
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