Hi,
If my savings A/C total interest is less than 10000 say just 4000 can I claim 80TTA deduction of 4000 or it is only applicable in ITR1 when the saving interest > 10000 but allowed only upto max 10000?
Thanks and regards.
3 Replies
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 20 June 2022
If your Savings interest is above 10,000 then you can claim only 10000/-
If the interest is less than 10,000/- then actual interest only can be claimed and more than that .
Say if your interest is 4000/- then 80TTA deduction can be claimed for 4000/-
If your interest is 12000/- then only 10000/- can be claimed.
If the interest is less than 10,000/- then actual interest only can be claimed and more than that .
Say if your interest is 4000/- then 80TTA deduction can be claimed for 4000/-
If your interest is 12000/- then only 10000/- can be claimed.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 20 June 2022
You can claim deduction upto 10000. If interest is less than it, claim full deduction of interest . If more than limit then only 10000 allowed.
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