I want to know whether Sweep A/c linked to a Savings Bank A/c is a Fixed Deposit Type or Savings type and can the interest earned on such Sweep balance credited to Savings Account (non-TDS deductable) be allowabe as deduction u/s 80TTA...?
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Sweep covered in 80tta...?
Replies (3)
sweep a/c behave like fd but they are actually savings type only. so intt. on such a/c will be allowed in 80tta
Is there some way to prove it...
tds provisions do not apply on sweep a/c intt. whereas tds is applicable on all intt. payments except savings a/c. hence proved.
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