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80TTA Disable

Yasir (article assistant ) (466 Points)

25 May 2024

while filling ITR for the AY 2024-25
why the deduction under 80TTA is disabled

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5 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 25 May 2024

You have to show , interest from saving bank under Income from other Sources First , then you can claim same amount as a deduction under 80 TTA .

( Deduction under 80TTA is interest income up to 10000/- only from Saving A/c ) .

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Mudassar Nath (Manager) (51 Points)
Replied 25 May 2024

Dear Yasir,

80 TTA deduction is not available under New Tax Regime.

Or file tax return under old regime to claim 80TTA. However, file form 10IEA before filing income tax return.

sabyasachi mukherjee (27574 Points)
Replied 25 May 2024

Sec 80TTA INTEREST FROM SAVINGS ACCOUNT IS DEDUCTIBLE TO AN EXTENT OF RS.10000 FRO. SAVINGS ACCOUNT

CA Anoop Kumar Sharma (Accounts Manager) (2065 Points)
Replied 25 May 2024

You can either try the new version of the income tax utility or use a single checkbox for the deduction you're claiming on the initial pages. This will be displayed only if you file your ITR under the old tax regime with interest income from bank in other sources.

Mohammed Nadeem Ansari (99 Points)
Replied 25 May 2024

Agreed with Mr.mudassar.

in new tax regime, there is only interest amount to be entered in other source income but not deductable due to new tax regime scheme, hence no any 80TTA limit question arise.