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80TTA Deductions

CuriousMind (NA) (139 Points)

08 July 2023

Dear CAs/Tax Experts ,

Good evening ! Can someone pls help understand , why 80TTA is throwing error ( attached ) and not considering any exemption while filing ITR1 , when I'm putting 10K for the tax rebate

Any help here will be appreciated sincerely .

Best Regards

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Raj Rajesh yadav (31 Points)
Replied 08 July 2023

Dear tax payer,
deduction u/s 80TTA will be allowed only if you have interest income from savings account. it will be allowed only under old regime but not under new regime

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CuriousMind (NA) (139 Points)
Replied 11 July 2023

Thanks for your response Raj !

Yes, you are right , if we don't mention the SBA interest income under income sources , then this 80TTA section will not consider this 10K deduction . All set now .