80tta deduction...
Bhavika Tourani (156 Points)
28 July 2021
is interest received on post Office savings account eligible for 80tta deduction?
5 Replies
veerendar singh
(tax consultant)
(3301 Points)
Replied 28 July 2021
Yes it available.
you may also know that 80tta is avlbl. for banks, cooperative banks and post office savinds deposit account
you may also know that 80tta is avlbl. for banks, cooperative banks and post office savinds deposit account
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 28 July 2021
Yes the deduction is available
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 28 July 2021
YES available .. eligible for 80TTA
Hari Beldona
(ACA)
(1533 Points)
Replied 28 July 2021
An individual can claim for deduction on interest income of up to Rs 10,000 per annum under this section. It is available for both individuals as well as Hindu Undivided Family.
No TDS is deducted on either Time Deposit (FD) or Recurring Deposit (RD) made with a post office. Senior Citizens (those above 60) can get up to Rs 50,000 per year in FD interest tax-free and no TDS will be deducted for interest received up to Rs 50,000 per annum for them.
No TDS is deducted on either Time Deposit (FD) or Recurring Deposit (RD) made with a post office. Senior Citizens (those above 60) can get up to Rs 50,000 per year in FD interest tax-free and no TDS will be deducted for interest received up to Rs 50,000 per annum for them.
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