I have Interest on Savings account with SBI ₹15000 and interest on post office deposits ₹25000...
Ignoring exemption under section 10(15), Can I claim deduction under section 80TTA two times for those two items separately?
So my obvious question is whether I could claim deduction under a same section for two times...
2 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 12 March 2021
Deduction u/s 80TTA is allowed in respect of interest only from savings account. Hence, ₹10,000/- can be claimed as deduction u/s 80TTA. In case of senior citizens, deduction u/s 80TTB can be claimed in respect of deposits with post office, subject to a limit of ₹50,000/-.
Kapadia Pravin
(17259 Points)
Replied 12 March 2021
No you can not claim two times. Under 80TTA max Rs 10000 on SB account interest.
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