Section 80TTA | Deduction on saving account interest | Incone Tax FY 2022-23 AY 2023-24 ||

Описание: Hello Friends !
In this video, I am discussing about the deduction us 80TTA fy 2022-23 ay 2023-24.

• Maximum deduction that you can claim under section 80TTA is Rs 10,000

.

• Deduction is allowed on interest income.

• Only Interest earned on a Savings
account is allowed as a deduction.

• Savings account with a bank, cooperative society, or post office is eligible for this deduction.

• Interest income on fixed deposits, recurring deposits, or other time deposits is not allowed as a deduction.

• Only Individuals and Hindu Undivided Families (HUF) can avail of this deduction.


• Senior citizens cannot claim deduction under this section.

• Mandatory to disclose interest income while filing your income tax returns.


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