Post office rd
pavan kumar (article) (103 Points)
19 August 2014
Can i claim post office rd under section 80TTA?
7 Replies
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 19 August 2014
Deduction u/s 80TTA is applicable to individual taxpayers and HUF only. This benefit is not available to a firm, an Association of Persons or a Body of Individuals.
Saving accounts with any of following entities will qualify:
- Bank or banking company;
- Co-operative Society engaged in carrying on the banking business and as specified.
- Post office Saving Account.
This deduction is NOT applicable to the interest you received on your FDs/time deposit or term deposit.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 19 August 2014
agreed with above answer... it is not eligible for deduction.
NAVEESH DHAR
(ADVOCATE- TAXATION ADVISOR)
(427 Points)
Replied 19 August 2014
No u can't claim deduction u/s 80TTA in respect of intt. on P. O. R D.
pavan kumar
(article)
(103 Points)
Replied 19 August 2014
Wheather Interest on post office rd is taxable?
pavan kumar
(article)
(103 Points)
Replied 19 August 2014
If it taxable under which section it os taxable?
NAVEESH DHAR
(ADVOCATE- TAXATION ADVISOR)
(427 Points)
Replied 19 August 2014
Yes intt on p.o. red is taxable and is to shown under income from other sources..
CA SUNIL SURI
(chartered accountant)
(353 Points)
Replied 20 August 2014
RD account is not a saving account............ so deduction u/s 80TTA cant be claimed..
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