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80TTA Deduction

ANKIT JAIN (180 Points)

03 March 2018

Dear Sir,
I am Propriter or my firm and I Recived 7000 interest on my saving Account. can I get unders deduction 80TTA

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18 Replies

Hiren Patel (Chartered Accountant) (91 Points)
Replied 03 March 2018

yes, upto Rs. 10000, you can get dedutuion u/s 80TTA

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Teja Ahuja (ca) (63 Points)
Replied 03 March 2018

Ofcourse Yes. Only when you declare it under Savings Account Interest received under Income from other sources in your IT Return.

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Sagar Mailapur (172 Points)
Replied 03 March 2018

yes u can get

ANKIT JAIN (180 Points)
Replied 03 March 2018

Interest on SB income is include in P&L in Indirect income head

and I put data In My Software

After deduction of 80TTA, I get added again in other income here and increases from total income interest.

what I do sir

1 Like

A.B.RAJ (FINANCE PRACTIONER ) (250 Points)
Replied 03 March 2018

upto 10000 is maximum list but for your cass 7000 will be shown in 80TTA

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 03 March 2018

You can deal the value already added in PandL...
You just less it under deduction head... And will be prepare the computation sheet with added in PandL Account...

2 Like